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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Interocean Group of Companies - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Australian Coal Association
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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