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