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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 $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
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