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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- The University of Queensland
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
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