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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Planning Commission, India
- Sical Logistics Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
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