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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Economic Council, Georgia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
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