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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, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Marubeni Corporation - India
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