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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
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- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
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