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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Planning Commission, India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- The University of Queensland
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
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