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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Economic Council, Georgia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
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