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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
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