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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, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- The University of Queensland
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
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