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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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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
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