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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
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