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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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- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
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