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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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Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
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- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
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