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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- The University of Queensland
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
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