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