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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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