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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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Showing 5931 to 5935 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Parliament of New Zealand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
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