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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- MS Steel International - UAE
- The Treasury - Australian Government
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Australian Coal Association
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
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