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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
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