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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
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