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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
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