Email This Post - Print This Post Print This Post

By John Helmer in Moscow Herbies beats aluminium into profit shares Herbert Smith, one of the largest billing of the UK law firms, has been forced to reveal this month in the UK High Court that it is charging the Tajikistan government more than $100 million for a 3-year court claim ordered by the Tajik [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow The Novorossiysk Shipping Company (Novoship) disappointed Moscow maritime analysts and the stock market today with FY 2007 financial results, just issued. Reported revenues totaled $615.3 million, 10% above the 2006 figure, but below consensus estimates and projections by transport analysts at Renaissance Capital and Finam. Net profit was reported at [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Deripaska is obliged to pay Prokhorov more to leave one uncertainty for a greater one Oleg Deripaska, owner of United Company Rusal, the global aluminium producer, has invited a small group of reporters to have an Easter luncheon with him at Café Pushkin this Saturday. The hors d’oeuvre is the [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow At current prices, old King Coal is a merry old soul in Russia. In the bad old days, when Boris Yeltsin was in charge of Russia, all you had to do to acquire a steelmill on the cheap was to cut off its gas, electricity, iron-ore, scrap metal, or its [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Uralkali reports spot price for potash goes above $1,000 a tonne as shortages bite. Uralkali and its global sales agent, Belarusian Potash Company (BPC), revealed this morning that spot-price cargoes of potash will fetch more than $1,000 per tonne of standard grade, including freight and insurance (CIF). Higher grade granular [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Russian boom creates beauty contest for European steel investors. The rapid acceleration in iron-ore and coal costs can be camouflaged on the books of a vertically integrated steelmaker, who supplies his own raw materials to his own blast furnaces. But mineral cost inflation has begun to hurt, even in integrated [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow MOSCOW – The magnitude and growth rate of demand from China still drives global commodity prices. But in the fertilizer sector, where China this month has had to agree to a price for potash more than double what it paid last year, the inflexibility of Chinese demand for food has [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Russian energy giant makes gains in Africa and Europe The days when American journalists wandered around Tripoli, acting as covert target spotters for the US Air Force to target Muammar Qaddafi for assassination, are gone. The maverick Berber has outlived, outwitted, outsourced, and outprofited five US presidents, four Russian heads [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow New Russian diamond mine is bigger and better. Blind Man’s Buff is a game which, in King Henry the Eighth’s time, was played by men at court to grope for ladies.These days it entertains children to hide from the blindfolded one, who plays “it”, and must catchwhoever he can, until [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Poor performance and uncertain prospects dog Russian steel and mining magnate Mordashov and management reshuffle not seen as improving the situation. Severstal, Russia’s third ranked steelmaker, is far from the Titanic, but seat-changing at the steel and mining group has failed to convince steel industry observers and the Moscow stock [...]