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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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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
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- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
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- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
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- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
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- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Australian Coal Association
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
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- Chamber of Mines of South Africa
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- Georgia Ports Authority, United States
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- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
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- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
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- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
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- Central Electricity Authority - India
- Borneo Indobara - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
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- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
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