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