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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, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
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