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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
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