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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
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