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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
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