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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
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