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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Planning Commission, India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- The University of Queensland
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
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