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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 $23 pmt for Tubarao/Qingdao. Later this week, however, BHP was more aggressively pushing the marked up by fixing four vessels in relatively short time for Australia/PRC at 10.25-10.50 range, i.e. breaking the important ten mark. The market in general was surprised to see the charters paying up like this, and the most plausible explanation is that there is more to go” concludes Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
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