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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
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