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