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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$16- 17,000 per day” BRS concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
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