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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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Showing 4991 to 4995 news of total 6871 |
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- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
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