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