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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- PTC India Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- White Energy Company Limited
- VISA Power Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Wilmar Investment Holdings
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