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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
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