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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
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