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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Australian Coal Association
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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