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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
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