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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- PTC India Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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