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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- White Energy Company Limited
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
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