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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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Showing 4786 to 4790 news of total 6871 |
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- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
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