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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Commonwealth Bank - Australia
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