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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, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Australian Coal Association
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
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