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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, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
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