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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
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