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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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