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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
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