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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- The University of Queensland
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
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