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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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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Australian Coal Association
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
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