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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bhatia International Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- The State Trading Corporation of India Ltd
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