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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 $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- CNBM International Corporation - China
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
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