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