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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- ASAPP Information Group - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
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