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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Australian Coal Association
- The University of Queensland
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
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