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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- PTC India Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
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