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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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- Dalmia Cement Bharat India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Australian Coal Association
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
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