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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
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