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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, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
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