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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 $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
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