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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- MS Steel International - UAE
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
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