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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Aditya Birla Group - India
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