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