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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
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