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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Australian Coal Association
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
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