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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
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