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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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