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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
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