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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
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