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