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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Aditya Birla Group - India
- White Energy Company Limited
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
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