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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 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
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