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Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
 When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range during the second half of the year, almost nothing indicated that the dry bulk industry’s main benchmark would record its biggest fall in almost five years. Still, the 4,118 voters appeared to be on the positive side, with 45,4% of them answering that the index will range between 3,000 and 4,000 points. Out of those, 22.9% or 943 votes were for the 3,000-3,500 limit, while an additional 22.5% or 926 votes were a bit more optimistic, placind the index at the range of 3,500 and 4,000 points.
Even more positive on the dry bulk market’s prospects were those 892 voters (21.7%) who predicted that the freight market will stay above 4,000 points, not to mention the overly optimistic who said it will surpass even the 4,500 point mark. They amounted to 467 or 11.3%. On the negative side were those 890 people (21.6%) who said that the market will stay within today’s range of between 2,500 and 3,000 points.
Of course, since the beginning of the week, the BDI has posted further declines, even if they appear to be rather stabilized. The index ended yesterday’s session at 2,406 points, down by 41, but the Capesize market was once again at a standstill, unchanged in the past couple of days. The bulk of the fall was recorded in the panamax segment of the market, with the Panamax Index retreating by 127 points to 2,748.
According to a report from Arctic Securites, quoted by Bloomberg, “imports of coal and iron ore by China, the world’s biggest user of the commodities, fell for two consecutive months, customs data show. Grain shipments from South America slowed leaving shipping lines with “the full force of vessel supply,” Martin Sommerseth Jaer and Erik Nikolai Stavseth, Oslo-based analysts with Arctic Securities ASA, said. “Everything together is contributing to it free falling,” said Andrew Dawson, a broker with Freight Investor Services in London. The “Chinese don’t seem to have the appetite for ore. Grain has been weaker than expected and coal in the Atlantic has not been as strong as previous years.”
In a separate report on the iron ore and steel market, Commodore Research said that iron ore demand has remained firm as expected, but spot ore prices and imports could be poised to briefly decline. Chinese steel mills have slowly begun to cut steel production in an attempt to reverse the steady decline in steel prices. Steel production in China is not expected to collapse by any means but we do expect it will decrease moderately in the short-term. The decrease in steel production and related iron ore demand will put pressure on dry bulk freight rates. It remains to be seen if robust Asian thermal coal demand and firm global grain demand will be able to compensate for the expected short-term decline in Chinese iron ore demand” the report noted.
At the same time, spot Indian iron ore with a 63.5% iron content is currently selling for approximately $130/ton FOB, an increase of $5 (4%) from a month ago. Compared with the end of last week, however, spot prices are down by $4 (-3%). Spot iron ore prices had been firming throughout much of June and ore fixtures in the dry bulk market have remained relatively firm - but the recent fall in iron ore prices in troubling. Chinese steel mills have been cutting production in order to reverse the steady fall of steel prices.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
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