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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
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