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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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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
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