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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
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