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