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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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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
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