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