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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
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