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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
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