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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Romanian Commodities Exchange
- VISA Power Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
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