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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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- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
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