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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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