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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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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
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