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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, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- PTC India Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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