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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
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