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