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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
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