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Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
 The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into the new year) has kept the pressure on all dry bulk segments, pushing the indices down to levels not seen in very long time. The BDI ended the week at 862 points (-18.1%), a last reached just after the Lehman Bros shock in October and November 2008.
The individual segments read as follows: the BCI dropped to 1,554 (-9.8%), the BPI and the BSI to 1,020 (-19.3%) and 807 (-16.9%) respectively, and the BHI slipped to 485 points (-9.0%). All sizes continued to head south at the start of the new week.
Capesize
Another severe drop in the Capesize 4TC this last week as China prepared for its New Year celebrations, removing any possibility of a turnaround in the near term. At $6,688 per day by close on Friday, this represents the lowest level for eight months, and a 27% drop on the previous week. At these levels, lay-up has again become a reality. The Atlantic market saw the biggest decline with Bolivar-east Med dropping as much as 10% and Tubarao- Rotterdam 6%. In the Pacific, trade was fairly brisk but rates remained flat to slightly negative at $7.60-$7.65. Tubarao- China dropped 3% to $19.55 by Friday and was reported as low as $19.35. However in the FFA market, activity suggested rates may be close to a bottom, and overall Feb+Mar and Cal12 closed the week up, at $10,529 (+679) and $12,958 (+334). Monday saw another fall in the 4TC however, and the Cape time charter average is now trading at a 6% discount to the Handies.
Panamax
Last week saw the decline in Panamax rates continue unabated in the face of limited fresh cargoes and an ever growing tonnage list. The Atlantic market remained under pressure with the 1A index falling back from $10,731 to $7,824, and 2A index from $21,183 to $18,127. One of the primary drivers behind this trend (besides the distinct lack of cargo) has been the sheer number of ballasters arriving from the East. High coal stockpiles, uncertainty surrounding forward demand for both iron ore and steel products, and the imminent lunar New Year holidays have depressed demand in the Pacific, forcing many owners to search for business elsewhere. Both 1A and 2A markets have subsequently been hammered, with many fixtures in fact being reported at levels well below that of the current index. The supply side is unlikely to improve any time soon, as many newbuilds initially slated for delivery at the end of 2011 are pushed back into Q1 2012. The outlook in the coming weeks remains bearish, with reported 3-5 month period rates declining below $10,000 per day basis delivery Far East. There are some commentators who believe rates should decline less sharply in the coming week or two, although likewise it is also difficult to argue in favour of any sharp improvement.
Supramax/Handy
The Handy/Handymax market saw rates heading south throughout last week although at a slower pace than their larger cousins. The week started at almost $10,000 and closed at $8,500 for the Supras and $7,600 down to $6,900 for the Handies. A remarkable achievement in an otherwise dull market largely affected by the holidays in the Far East. No area was spared except maybe for South America where some activity started, together with the grain exports out of Argentina. That being said, the reduction of the available draft in the river is affecting owners’ revenue.
The rest of the world has been severely hit with the USG taking the biggest hit since there were reports last week of a TES 58 fixing at $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
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