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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Economic Council, Georgia
- Australian Coal Association
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
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