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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
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