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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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