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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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Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
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