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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 $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
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