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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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Showing 4726 to 4730 news of total 6871 |
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- Latin American Coal - Colombia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
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