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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- PTC India Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
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