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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
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