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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 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Planning Commission, India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
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