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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- VISA Power Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
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