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