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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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Showing 4806 to 4810 news of total 6871 |
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- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
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