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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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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
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