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