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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
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