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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
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