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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Australian Coal Association
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
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