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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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Showing 5971 to 5975 news of total 6871 |
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- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- The University of Queensland
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
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