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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
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