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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
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