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