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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, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- SMC Global Power, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
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