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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Australian Coal Association
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Minerals Council of Australia
- PTC India Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
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