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