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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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