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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, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
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