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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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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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Showing 5211 to 5215 news of total 6871 |
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- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Planning Commission, India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
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