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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
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