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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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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Petron Corporation, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- White Energy Company Limited
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
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