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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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Showing 5206 to 5210 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
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