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Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
 With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed to stay above the 4,000 point mark, among the highest levels reached since the financial crisis back in late 2008, led to a collapse of the shipping markets as well. According to the latest Hellenic Shipping News poll, where a total of 4,605 votes were casted, China’s iron ore imports will continue to be the leading factor determining the course of rates.
A total of 1,707 of answers or 37.1% said that this will be the most important gauge for rates, as was the case in the previous years – and especially during 2009 – as well. An equally important 22.4% of votes or 1,031 in total said that newbuiling deliveries, directy affecting tonnage supply will be the main cause for altering the course of freight rates. With capesize deliveries during the first quarter of the year reaching record levels, many analysts remain cautious about the prospects of the market, especially during the second half of the year, when more deliveries have been scheduled.
Similarly, newbuilding cancellations will be the third most important factor according to the Hellenic Shipping News readers. A total of 13.9% or 638 voters claimed this very thing, as more cancellations could help alleviate future supply pressures, although that can’t be said for 2010, but more for 2011 going forward. The same alleviating consequences can derive from the scrapping of older dry bulk carriers, which was the fourth most important factor, accumulating 620 votes (13.5% of the total). So far this year, demolition activity for dry bulk vessels has remained quite low, as prices for second hand carriers began firming up. Still, scrap prices have exploded, which in turn has prompted scrapyards to increase their offers towards ship owners to near record levels. Despite these developments, most ship owners weren’t enticed and preferred to keep their older ships in service, at least as long as freight rates are at levels which sustain profitability to satisfactory levels.
Another factor (609 answers or 13.2%) which could keep rates at high levels is the rapid increase of coal imports from the powerhouse of India. The country has tremendous needs of electiricity producing coal, which could see this year’s imports increase to 100 million tons. As a result, many analysts expect the creation of another major dry bulk market for seaborne trade, after the emergence of China early in the decade.
During this month (June) we return to one of your favorite questions. We ask readers about the level of the BDI (Baltic Dry Index) during the second half of the year, proving a range of choices, from the pessimistic end to the more optimistic one. With many analysts doubting whether the market can sustain today’s high levels, it would be rather interesting to see what you think.
Finally, for those of you who will attend this year’s Posidonia Exhibition, don’t forget to stop by the Hellenic Shipping News Worldwide “Dry Bulk Forum”, scheduled for Thursday, 10th of June, from 10:45 am to 12:45 pm. Speakers include Mr. Dale Ploughman, CEO of Seanergy Maritime Holdings Corp., Mr. Dimitris Nenes, President and COO (Chief Operating Officer) of OceanFreight Inc., Mr. Christofer Thomas, Chief Financial Officer of Paragon Shipping Inc., Mr. Ted Petropoulos, head of Petrofin Research, Mr. George Xiradakis, CEO of XRTC Business Consultants and Mr. John Pachoulis, President of the Hellenic Shipbrokers Association.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- White Energy Company Limited
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
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