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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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- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
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