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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
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