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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
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