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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
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- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
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- Star Paper Mills Limited - India
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- Romanian Commodities Exchange
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- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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- Attock Cement Pakistan Limited
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- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
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- Electricity Generating Authority of Thailand
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- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
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- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
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- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- White Energy Company Limited
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- Planning Commission, India
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- Mercator Lines Limited - India
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- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- London Commodity Brokers - England
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- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Minerals Council of Australia
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- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
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- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
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- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
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- Banpu Public Company Limited - Thailand
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- Price Waterhouse Coopers - Russia
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- PowerSource Philippines DevCo
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
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