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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, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
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