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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
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