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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, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
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