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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Australian Coal Association
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
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