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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Minerals Council of Australia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
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