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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, 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 ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
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