Photo Gallery 2011

Dry bulk demand, particularly iron ore, coking and thermal coal demand from China and India remain strong and are set to surge in the second half of 2010. The rapid recovery of freight rates from a catastrophic collapse in 2008 has seen fixtures for capesize, panamax, handysize and handymax vessels rebound and remain firm. With Chinas appetite for steel-making raw materials expected to peak by 2020 with imports of iron ore of 1.3bn tonnes a year, the outlook is for cautious optimism.

In the near term a combination of declining Chinese steel and coal stockpiles, robust demand for thermal coal in China and India and the approaching peak summer Northern Hemisphere season should see continued support for freight rates. Port congestion continues to tie up vessel supply and the introduction of quarterly iron ore contract price settlements are expected to have a significant impact on the market.

While demand for dry bulk commodities remains strong, the shipping sector could struggle to absorb new vessels. The bulk carrier fleet consists of more than 7000 vessels, with more than 3000 on order including 733 capesize vessels. New ship deliveries could boost the fleet by 30% from 2010-2012. This huge increase in capacity, unlikely to be matched by a growth in trade, could have a negative impact on rates for 2-3 years. However, some estimate that so far this year, around 50% of anticipated vessel deliveries have not taken place and with predictions of 15% cancellations on the total dry bulk orderbook, the catastrophe that many feared, had the entire orderbook been delivered on schedule, will, in all likelihood, be avoided.

In addition, scrapping of older vessels will have a considerable market correcting affect, but uncertainties will lead to a volatile market. The Dry Bulk Shipping Market Outlook conference is the only global event to bring together a distinguished panel of experts to analyse market drivers and assess demand and supply fundamentals in the dry bulk shipping sector.

Finance experts, including Ted Jadick, Executive Director and Head of International Section, HSH Nordbank and Evan Cohen, Managing Director and Global Head Dry Bulk Group, DVB Group Merchant Bank (Asia) will give their insights into the global economy and how the dry bulk shipping sector is adapting. They will be joined by renowned experts including Jeremy Penn, Chief Executive, The Baltic Exchange and Bill Scotting, Executive Vice President, Head of Strategy, ArcelorMittal during 2 days of unmissable analysis as the sector seeks to reap rewards from buoyant demand whilst avoiding the threat of oversupply.

The 2010 programme is being finalised at present. If you an enquiry about the upcoming agenda please contact the conference manager, Loic Beuzit, E-mail: loic.beuzit@informa.com.au Tel: +61 2 9080 4300

We look forward to meeting you in London in October this year