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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
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