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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Economic Council, Georgia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
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