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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
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