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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Planning Commission, India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
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