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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, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
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