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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$16- 17,000 per day” BRS concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
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