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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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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Economic Council, Georgia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- The University of Queensland
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
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