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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, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
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