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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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Showing 5911 to 5915 news of total 6871 |
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- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
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