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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
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