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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
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