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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- The University of Queensland
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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