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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
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