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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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Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Australian Coal Association
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
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