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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
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