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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- The University of Queensland
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
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