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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
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