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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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Showing 6046 to 6050 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- The University of Queensland
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Australian Coal Association
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