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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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Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
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Showing 5856 to 5860 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Sojitz Corporation - Japan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
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