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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
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