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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, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Marubeni Corporation - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
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