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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Minerals Council of Australia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
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