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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, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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Showing 5881 to 5885 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
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