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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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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- White Energy Company Limited
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
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