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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- White Energy Company Limited
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
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