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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
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