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Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
 The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore.
China’s imports of iron ore, used in steelmaking, jumped 33 percent in April, setting a record for a third month, the customs office said last week. The nation, the world’s biggest steel producer, is stockpiling commodities as part of a reallocation of its sovereign wealth, Brian Jackson, senior strategist at the Bank of Canada in Hong Kong, said yesterday.
“This will continue for at least one year,” Nobu Su, founder of Taipei-based commodities shipping line TMT Co., said by phone from London today. “It’s a natural hedge, so they are buying commodities.”
Chinese demand is compensating for a slump elsewhere, with the Organization for Economic Cooperation and Development in Paris predicting a 13 percent drop in world trade volumes this year. Ships carry about 90 percent of world trade, according to The Round Table of International Shipping Associations.
The index tracking transport costs on international trade routes added 39 points, or 1.5 percent, to 2,644 points, according to the Baltic Exchange. That’s the highest since Oct. 8 and marks a 13th consecutive advance. Rentals climbed for every class of ship tracked by the bourse.
Nobu Su on April 1 said the index had “hit bottom” and would advance. The gauge has gained 68 percent since then. The index plunged 92 percent last year, its worst performance in at least two decades.
Amassing Commodities
China’s amassing of commodities is “definitely happening,” Michael Gaylard, London-based strategic director at broker Freight Investor Services Ltd., said by phone today. “They are building up some stockpiles right across the commodity spectrum, from base metals to coal.”
China increased crude-oil imports in April by 13.6 percent from a year earlier because of government plans to boost stockpiles of the fuel to 60 to 90 days.
“We’ve seen a lot of cargoes,” said Su, whose company controls a fleet of about 130 vessels that mostly transport coal, ore and grain. Demand has mainly come from India and China, he said.
Rental rates for iron ore-carrying capesize vessels, the largest monitored by the bourse, advanced 2.1 percent to $36,113 a day. Panamax rentals added 0.6 percent to $20,239 a day.
Forward freight agreements, contracts indicating future shipping costs, traded at $26,750 to $27,000 a day on capesize vessels for the third quarter as of 1:30 p.m. in London, according to Gaylard. They closed yesterday at $27,594, Baltic Exchange data show.
FFAs for panamax vessels over the same period traded at about $14,750 a day, from $15,038 yesterday.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=a.jSvYLSrgcA&refer=home
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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- The University of Queensland
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Latin American Coal - Colombia
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