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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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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Central Java Power - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
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