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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- White Energy Company Limited
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
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