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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
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