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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, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
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