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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
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