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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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- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Australian Coal Association
- Oldendorff Carriers - Singapore
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