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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, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
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