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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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