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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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Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Australian Coal Association
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
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