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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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- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
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