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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Australian Coal Association
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
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