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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
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