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Mercator Lines (Singapore) Limited - Renews contract with Arcelor Mittal
Tan Jin San, 30 May 2008
Mercator Lines has renewed its long term time charter contract of its
gearless Panamax vessel to existing customer Arcelor Mittal.
Huat Liao..........
SINGAPORE, May 29 (Reuters) - Container shipping group
Neptune Orient Lines (NEPS.SI:
Quote,
Profile,
Research) rose as much as 5.9 percent to a
one-week high of S$3.92 after Morgan Stanley issued a note
saying NOL should ride on
strong freight rates and outperform
its peers.
Mercator Cheong arrrr.................
29 May 2008
Baltic Dry Index (BDI) +102 11347
Consolidation "mode" after the recent "run-up"....which is a good thing.
Also yesterday's sharp "pull back" in BDI didn't help matters.
ruzmidah ( Date: 26-May-2008 13:24) Posted:
| Hmm... why going down despite the news ? |
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Due to mkt sentiment. Not only this counter, sea of red.
ruzmidah ( Date: 26-May-2008 13:24) Posted:
| Hmm... why going down despite the news ? |
|
Hmm... why going down despite the news ?
May 22, 2008
Mercator secures coal mines in Indonesia and Mozambique
DNA Money reported that Mercator Lines is foraying into
coal mining through its subsidiary in Singapore and has secured mining
licenses for two coal blocks in Indonesia and one in Mozambique.
Based on the fact that bulk cargo freight rates in the recent past were
at a record high, the new venture is set to be an advantage for the
shipping major.
Mercator has secured 50% rights in two coal blocks in Indonesia, which
have reserves of 15 million tonnes of decent to good quality coal. It
would start production of coal there in July 2008 and expects the 2
mines to contribute 1 million tonne of coal in the first year.
However, the coal block in Mozambique where Mercator Lines has 85%
rights is still under development. The coal reserves there have been
estimated to be around 3 billion tonnes and the company anticipates a
wait of another 2 to 3 years before they can start production.
Mercator has spent USD 5 million in Indonesia for developing the mines
and expects a similar expenditure in Mozambique. This also includes
production tax and 9% royalty that the company needs to pay the
Indonesian government. Thermal coal, on the other hand is currently
sold at USD 45 to USD 50 per tonne.
Mr Atul Agarwal MD of Mercator said that "The coal venture would help
us become a complete energy supply chain company, as it would add to
our logistics services. We are looking at mining and selling one
million tonnes of coal in FY09, out of the two Indonesian mines."
Mr Agarwal said that "Rather than acquiring existing producing mines,
we have looked at green field, projects which need development."
Analysts said that the venture could help get a constant revenue stream
for Mercator, which transports coal to power plants of TATA Power,
Jindal Steel and Reliance Power, apart from acting as a hedge. But the
company prefers to call the move a backward integration.
Mercator is one of the leading carriers of bulk cargo in India. They
ferry iron ore, coal and much of their revenues come from bulk cargo
unlike Great Eastern Shipping and Shipping Corporation of India.
And also this:
http://www.cnbc.com/id/24755882
Note the point that coal is heating up more than oil this year...
And Mercator Lines (Singapore) is sitting on 45m tonnes of coal.
And that it is still trading below IPO
....:O)
Check this out.http://www.steelguru.com/news/index/2008/05/18/NDU4NjU%3D/Mercator_secures_coal_mines_in_Indonesia_and_Mozambique.html
20 May 2008
Baltic Dry Index (BDI) +84 11793
<<Affirmative>>
BRO S.BEAR.....
Stocks that close at the highest bid of the day and strong buy up will open at least one bid higher or two...... Provided that the index dun open too low.. even very low as in -1% or lower... it will only open flat as per today or one bid lower.... Do monitor this and u will gain more in stocks....
If u want only maybe 100 bucks per day.. u can just scroll thru the stocks and buy on the next trading day with those close highest high maybe say 10 lots.. and out at .015 gain.... cheers
Just an suggestion only. cheers 
Stupidbear ( Date: 21-May-2008 17:15) Posted:
definitely??
Singer88 ( Date: 21-May-2008 17:09) Posted:
| Tomorrow will definity open higher base on strong closing. |
|
|
|
definitely??
Singer88 ( Date: 21-May-2008 17:09) Posted:
| Tomorrow will definity open higher base on strong closing. |
|
Tomorrow will definity open higher base on strong closing.
May open at 0.565
Should cross 0.60 mark tommorrow :)
Eagerly waiting...........
19 May 2008
Baltic Dry Index (BDI) +250 11709
All the way !!!
16 May 2008
Baltic Dry Index (BDI) +392 11459
Mercator will fly.............
15 May 2008
Baltic Dry Index (BDI) +418 11067
