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