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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- The University of Queensland
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
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