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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, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
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