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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
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