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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- White Energy Company Limited
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- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
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- Directorate General of MIneral and Coal - Indonesia
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- The University of Queensland
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
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- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
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- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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