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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- White Energy Company Limited
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
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