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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
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