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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Global Business Power Corporation, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
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