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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
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