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