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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
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