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