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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, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
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