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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
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