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