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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
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