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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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Showing 4881 to 4885 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
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