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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Australian Coal Association
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
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