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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- White Energy Company Limited
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
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