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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
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