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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
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