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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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Showing 4916 to 4920 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Australian Coal Association
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
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