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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
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