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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, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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