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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- PTC India Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
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