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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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Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- The University of Queensland
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
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