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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- MS Steel International - UAE
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
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