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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- MS Steel International - UAE
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Planning Commission, India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
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