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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
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