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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Posco Energy - South Korea
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