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