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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, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
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