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