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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
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