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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
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