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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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