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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Planning Commission, India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Australian Coal Association
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
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