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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
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