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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Ministry of Mines - Canada
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