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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- The University of Queensland
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
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