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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
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