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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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