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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
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