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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- CNBM International Corporation - China
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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