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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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Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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