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