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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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Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Coal and Oil Company - UAE
- The University of Queensland
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
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