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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
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