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Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
 The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore.
China’s imports of iron ore, used in steelmaking, jumped 33 percent in April, setting a record for a third month, the customs office said last week. The nation, the world’s biggest steel producer, is stockpiling commodities as part of a reallocation of its sovereign wealth, Brian Jackson, senior strategist at the Bank of Canada in Hong Kong, said yesterday.
“This will continue for at least one year,” Nobu Su, founder of Taipei-based commodities shipping line TMT Co., said by phone from London today. “It’s a natural hedge, so they are buying commodities.”
Chinese demand is compensating for a slump elsewhere, with the Organization for Economic Cooperation and Development in Paris predicting a 13 percent drop in world trade volumes this year. Ships carry about 90 percent of world trade, according to The Round Table of International Shipping Associations.
The index tracking transport costs on international trade routes added 39 points, or 1.5 percent, to 2,644 points, according to the Baltic Exchange. That’s the highest since Oct. 8 and marks a 13th consecutive advance. Rentals climbed for every class of ship tracked by the bourse.
Nobu Su on April 1 said the index had “hit bottom” and would advance. The gauge has gained 68 percent since then. The index plunged 92 percent last year, its worst performance in at least two decades.
Amassing Commodities
China’s amassing of commodities is “definitely happening,” Michael Gaylard, London-based strategic director at broker Freight Investor Services Ltd., said by phone today. “They are building up some stockpiles right across the commodity spectrum, from base metals to coal.”
China increased crude-oil imports in April by 13.6 percent from a year earlier because of government plans to boost stockpiles of the fuel to 60 to 90 days.
“We’ve seen a lot of cargoes,” said Su, whose company controls a fleet of about 130 vessels that mostly transport coal, ore and grain. Demand has mainly come from India and China, he said.
Rental rates for iron ore-carrying capesize vessels, the largest monitored by the bourse, advanced 2.1 percent to $36,113 a day. Panamax rentals added 0.6 percent to $20,239 a day.
Forward freight agreements, contracts indicating future shipping costs, traded at $26,750 to $27,000 a day on capesize vessels for the third quarter as of 1:30 p.m. in London, according to Gaylard. They closed yesterday at $27,594, Baltic Exchange data show.
FFAs for panamax vessels over the same period traded at about $14,750 a day, from $15,038 yesterday.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=a.jSvYLSrgcA&refer=home
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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- The University of Queensland
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
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