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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, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
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