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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
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