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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Planning Commission, India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
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