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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, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
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