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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- The University of Queensland
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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