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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
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