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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
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