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