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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
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