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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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Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
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