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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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Showing 4871 to 4875 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
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