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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Planning Commission, India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- The University of Queensland
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
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