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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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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
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