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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- PTC India Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
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