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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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