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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
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