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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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Showing 5741 to 5745 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
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