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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
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