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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
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