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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Economic Council, Georgia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
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