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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, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- PTC India Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
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