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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Siam City Cement - Thailand
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
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