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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Planning Commission, India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
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