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