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Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
 Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for shipments of coal and iron ore slowed.
The index tracking transportation costs on international trade routes today slid 135 points, or 4.6 percent, to 2,772 points, according to the Baltic Exchange. That took its weekly drop to 17 percent, the most since the end of October.
“The Chinese have backed off and it’s starting to show in the number of shipments this month,” Gavin Durrell, a Cape Town-based official at Island View Shipping SA, Africa’s biggest commodities shipping line, said by phone today. “Iron ore and coal seem to be slowing down.”
China’s record coal and iron ore imports in the first half helped the index to advance as much as fivefold this year, reversing some of the record 92 percent collapse in 2008. Demand rose after the country’s government announced a 4 trillion yuan ($586 billion) stimulus package.
Daily rental rates for every class of ship tracked by the bourse declined today, led by a 5.6 percent slump to $20,880 for panamaxes, ships designed to navigate the Panama Canal.
Capesizes, ships most commonly used to haul about 170,000 metric tons of iron ore around South Africa’s Cape of Good Hope or Chile’s Cape Horn, lost 5.2 percent to $45,428 a day. Smaller supramaxes fell 5 percent to $19,242 a day and handysize ships lost 2 percent to $12,051 a day.
Chinese Steelmakers
Rates are declining as Chinese steelmakers delay imports while they negotiate annual iron ore prices with producers such as Rio Tinto Group, BHP Billiton Ltd. and Vale SA, Durrell said. “I don’t think they will come back until they agree,” he said.
The drop reflects a wider slide in demand for raw materials that will likely push prices for metals, commodities and energy lower, Eugen Weinberg, a senior commodity analyst at Commerzbank AG in Frankfurt, said by phone yesterday.
The Baltic Dry Index has slumped 35 percent from this year’s high on June 3. The Standard & Poor’s GSCI Index of 24 commodities has climbed 7 percent over the same period.
Derivatives betting on the Baltic Exchange’s future assessments fell for a third day, indicating the declining spot market is causing traders’ future expectations to deteriorate.
October-to-December forward freight agreements, or FFAs, for capesizes lost 4.7 percent to $36,750 a day, according to prices from Imarex ASA, a broker of the accords. That implies traders expect the market to drop 19 percent by year-end.
Panamax contracts fell 1 percent to $17,625 a day, implying a 16 percent decline.
Source: Bloomberg
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Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
Wednesday, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
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- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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