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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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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Showing 4911 to 4915 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Planning Commission, India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
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