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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
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