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