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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Australian Coal Association
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
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