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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
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