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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
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