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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The University of Queensland
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
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