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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Planning Commission, India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
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