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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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Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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Showing 5926 to 5930 news of total 6871 |
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- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
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