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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Independent Power Producers Association of India
- Parliament of New Zealand
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
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