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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
 The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous day. The capesize segment lost 62 points to reach 3,936, while the smaller panamax market gained 9 points to reach 3,900. Still, the irregularity observed during the previous weeks, when a panamax vessel could command higher fees than a comparative capesize has been eradicated after last week’s rally.
Still, in just one week the cape market has regained most of the ground lost since mid March, with the BCI closing on Friday at 3,936 points (+698 or +21.6% week on week) said Barry Rogliano Salles in a latest report. “This surge has been achieved on the back of short tonnage lists in the Atlantic and a rush for fixing before the Chinese/ Japanese holidays. However, the enthusiasm went a little down on Friday’s little downward correction. There was some increased period activity for one year duration, done in the mid 30s level, up from the low 30s of the previous weeks” said the report.
Summarizing the latest developments affecting the dry bulk market, BRS said that the project supported by the Australian Government to raise a so-called “resource rent tax” has come as a shock for the iron ore miners. Apart from the immediate reaction of the stock exchanges towards mining shares, the miners themselves have warned authorities that this tax (if implemented) could freeze a big share of their development projects.
“Analysts already predict that this tax could prevent some M&A initiatives to go further and decide some foreign investors to revise their plans. At the same time in China the CISA has called for a tax cut on domestic mining and a development of local supply. On the iron ore market, most players seem to be bearish about price evolution and wait-and-see attitude prevails for the moment. Lack of clear direction has also been the case for dry bulk shipping markets where despite a rate hike for Capes over the last 5 trading days, the week ended on a softer note.
Rumors have started circulating about a merger project by Glencore with Xstrata (of which they already won 34%) which could rocket the group to the top of the world commodity players’ ranking. No comments have so far been obtained from the two groups but according to analysts this project could be a key part of Glencore wider restructuring plan” said the shipbroker.
Still, in a recent report by N.Cotzias Shipping Group, we had noted that capes could very well be in for a run. “The fundamentals tell us that the Steel demand in China that leads the Iron]Ore Demand/Supply “tug of war” is there strong, and although China has reduced its iron ore imports from India due to an increase in excise duty and low grade imports into the country, overall trade has picked up, causing BDI to remain steadily in the range of 3k.
The past 2-3 weeks we have seen the Chinese Iron/Ore importers with the backing of the CISA, to be playing a nerve racking tactical cold war game with the giant Miners and Iron/Ore exporters. We strongly believe it is time that the flow returns to the normal levels and this "artificial" scarcity and shortage in the demand that was triggered partly as a boycott threat, cum pressure, will be resolved soon.
It is not a common secret after IMF released last week the latest word growth figures, that China's GDP growth estimate for 2010 is in double figures of 10%, and recent trade figures show that the improrts of Iron/Ore will exceed in volume those of 2009 by 7%” reaffirmed the report.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
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