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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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Showing 4741 to 4745 news of total 6871 |
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- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Parliament of New Zealand
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
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