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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Planning Commission, India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
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