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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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Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
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