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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- MS Steel International - UAE
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- The University of Queensland
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Economic Council, Georgia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
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