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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, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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Showing 5916 to 5920 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- The University of Queensland
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Economic Council, Georgia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
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