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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
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