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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, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
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