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