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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
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