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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
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