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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
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