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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
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