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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
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