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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
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