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