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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Australian Coal Association
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- PTC India Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Planning Commission, India
- ASAPP Information Group - India
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