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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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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
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