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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, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
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