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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PTC India Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
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