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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
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