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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Australian Coal Association
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
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