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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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- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
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