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Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
 Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain firmer freight rates for bulk carriers. This could also explain not only the positive stance that ship owners have been exhibiting lately, but also their urge to acquire more dry bulk carriers from the second hand market, with a record of 157 ships traded during March, according to brokers’ reports. Still, those factors haven’t yet been translated through the Baltic Dry Index (BDI), which is moving rather lethargically during the past couple of weeks. Yesterday’s session saw the index at 3,009 up by 11, with the Capesize market rebounding, while the Panamax segment was retreating.
According to an analysis by Commodore Research & Consultancy, Chinese iron ore imports continue to remain firm this year and are up significantly from 2008 levels. In the first three months of this year, China has imported an average of 51.67 million tons of ore, 14.67mt (40%) more than 2008’s monthly of average of 37mt. Iron ore imports reached a monthly average of 52.36mt in 2009, however, putting this year’s iron ore imports at 0.69mt (-1%) less than 2009 levels.
At the same time, Chinese thermal coal demand also remains very firm, as the severe drought in southwest China continues to significantly restrict hydropower production. “A continued decline in Chinese steel stockpiles remains very encouraging. Chinese steel production, and now apparent consumption, appears quite firm. The very sharp decline in Chinese coal stockpiles is also encouraging. Thermal coal demand in China is likely to remain robust during the next few months, as Chinese hydropower output stays low and the Northern Hemisphere peak summer demand season approaches. Spot prices for dry bulk commodity prices remain firm and global port congestion is still very high” the report said.
Meanwhile, another important market expected to kick in by June, is the expected increase of Canadian iron ore exports. Wuhan Iron Ore and Steel Company (WICSO), one of China’s major steel mills, recently announced that it would head the call to boycott Australian and Brazilian ore. As an alternative the company is favoring a steady supply of the raw material from Canada’s Consolidated Thompson, beginning June. The iron ore will come from Consolidated Thompson’s Bloom Lake Iron Ore Deposit, a 640 million ton ore deposit of primarily low quality iron ore. Bloom Lake currently produces around 7mt of high quality ore (with up to a 66.5% iron content) each year, however, and this is the type of ore that WISCO will be importing. WISCO’s Consolidated Thompson ore imports will be shipped from the eastern Canadian ports of Sept-Isles, Pointe Noire, and Port Cartier. Commodore says that “this development will support freight rates (once shipments begin in June) due to the increase in ton miles associated with shipping ore from eastern Canada to China, compared with shipping ore from Australia or India to China. WISCO will still find it difficult to boycott Australian and Brazilian ore in the short-term, however, as Consolidated Thompson shipments will not begin until June. Once these ore shipments begin, we still expect WISCO (and any other importers of Consolidated Thompson ore) to continue to import a large amount of iron ore from traditional exporters (Australia, Brazil, and India)” concluded the report.
Commenting on the recent trend of the capesize segment, Fearnley’s latest weekly report said that finally there was more optimism in the market last week, with improving rates being fixed and more activity. “This week started off relatively quiet, with Rio Tinto fixing vessels well below $10 for Australia round voyage and Vale picking older ships at around $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- ASAPP Information Group - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
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