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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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Showing 4711 to 4715 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- The University of Queensland
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
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