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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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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- SMC Global Power, Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
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