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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PTC India Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
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