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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
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