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