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