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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
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