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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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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- GMR Energy Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
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