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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- VISA Power Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
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