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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
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