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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bulk market’s behavior this year. Those who will succeed may benefit in their business. A recent poll of analysts provided some insight as to where the industry’s benchmark will range during the first quarter of 2011.
According to them, the BDI will range from 1,700 to 2,600, with an average of 2,118 points. They also said that Capesize rates will average $26,000/day (range of $20,000 to $35,600), while for Panamaxes the average daily rate is deemed to be $20,000 (low of $15,000 and high of $23,100).
UOB’s analysts appeared to be the most bullish ones in terms of the BDI’s course during the first quarter saying that it will average at 2,600 points, while among the most conservative ones was ABG with a prediction of 1,700 points. Other experts like Drewry Shipping placed the BDI at 2,280 points, while DNB NOR Markets gave an estimate of 1,955 points. Similarly, Macquarie expects Capesize rates to average $22,500/day and Panamaxes $16,000/day. Fearnley’s sees rates for Capesizes at $27,500/day and Panamaxes at $19,800/day, while Oppenheimer predicts rates of $30,500 for Capesizes and $22,000 for Panamaxes. Finally, Nordea said Capesize rates would average $26,000 and Panamaxes $20,000.
Meanwhile, in its latest weekly report, Barry Rogliano Salles said that after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at 1,773 points. Apart from the slump seen in July, this is the lowest level recorded for 2010. Early predictions that Chinese ore imports would continue to drive the market up in 2010 proved incorrect. Official figures show China imported 560.5m tonnes Jan-Nov, compared to 565.8m in the same period in 2009. Among exporters, Australia was the biggest beneficiary, increasing its exports to China by 2.4% year-on-year, while the other major producers Brazil, India and South Africa saw their exports decline approximately 9%, 7% and 12%. However China continues to diversify its ore sources, and many smaller producers such as Iran, Indonesia, Peru and Chile increased their sales during 2010.
Commenting on the Capesize market the Paris-based shipbroker said that it was a very quiet week, with little happening in the final 10 days of the year. “Overall, the the sentiment appeared flat to weakening, and in the futures market short-term prices fell. January Cape 4TC is now trading at just over US$20,000 per day, compared to over US$23,000 in the week before Christmas. However for 2H 2011 rates remain little changed. Ship deliveries slowed in the final fortnight of the year, but we can expect a ‘bunching’ of deliveries in early 2011 as ships completed in December are held over for the new year” said the report.
Similarly, on the Panamax front, this week was also very quiet as a result of the festive season. “The The TA round market hovered in the mid US$20,000s per day and seemed stable, mainly due to the thin number of candidates open in this area and some ECSA cargoes activity. However, ballasters from the Far East and India were apparent and should balance out the market. Out of India, the market was relatively quiet. Goa’s exports were impacted by the truckers’ strike and the iron ore ban continues. The WCI-China route was traded in the mid S$10,000s. The ECI market was relatively quiet except for Haldia. In the Far East, the market did not improve and levels reached US$8-8,500 per day for a Nopac round. The short period activity was sluggish and the last reported fixtures were hanging around the mid US$10,000s for Tess 74 delivery North China or India redelivery worldwide. One-year period candidates were traded around US$16- 17,000 per day” BRS concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
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