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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, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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Showing 5851 to 5855 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
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