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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Economic Council, Georgia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
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