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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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Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
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- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Economic Council, Georgia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
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