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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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Showing 5851 to 5855 news of total 6871 |
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- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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