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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, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
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