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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Planning Commission, India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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