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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
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