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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, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
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