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