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Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fall in the start of the week and reach just 702 points, down by 24 on the day. It’s been the worst start of the year for years, with January proving to be the most difficult month for ship owners, as a result of newbuilding deliveries, especially in the Capesize sector. As a result, the BDI is now trading dangerously close to the lows reached on the aftermath of the global financial crisis some three and a half years ago (start of December of 2008, when the index was trading just above 660 points).
Yesterday, all major indices were down, with Panamaxes still suffering dearly. The relative Baltic Panamax Index (BPI) retreated by 50 points to end the session at just 765 points, while the Capesize Index proved a bit more resilient, losing just 9 points to 1,456. Still, the smaller Handysizes are still suffering, recording loss after loss for a series of weeks now. As a result, the BHSI (Baltic Handysize Index) has now fallen to just 416 points.
According to the latest weekly report from Barry Rogliano Salles (BRS), “with Chinese New Year marking an unofficial pause in the market, all sizes ended the week in the "red". The BDI stood at 726 points (-15.8%) while the BCI ended at 1465 (-5.7%), the BPI at 815 (-20.1%), the BSI at 695 (-13.9%) and the BHI at 426 points (-12.2%). In the coal markets, it was announced that China overtook Japan as the largest coal importer in the world in 2011,pushing Japan off the top spot. Although Japan’s drop is partly a result of problems caused by the Japanese earthquake, China could retain pole position in 2012” said the Paris-based shipbroker.
Referring to the Capesize market, BRS noted that “another 17% was knocked off the Capesize 4TC last week as a combination of Chinese holidays and Australian weather problems brought rates quickly down. By Friday, the 4TC was at $5,566, a level not seen for eleven months. The cyclone in western Australia saw orders from the Pacific dry up, whi le there was also a corresponding drop in activity in the Atlantic. West Australia-China was quoted as low as $7.65, while Tubarao-China was at $19.35, with $19.10 reported done during the week. Translatantic rounds were around $5,000. Monday saw another $76 deleted, bringing the 4TC to $5,490” it said.
In the Panamax front, the shipbroker mentioned that “the slide of the market continued from the previous week with a dramatic drop in rates over the Chinese New Year period in what was a very muted market with little to report. The 4TC shaved off $1,643 w-o-w whilst TA,FH and the Pacific all took a substantial hit losing $2,156, $2,387 and $912 respectively. The BH now stands in negative territory at -$950 per day. The outlook remains bleak with tonnage massing and little cargo being apparent worldwide, this on top of high stockpiles which have further contributed to the slackening in demand” said the report.
Finally, in the Supramax/Handy segment of the market, BRS said that “during the last week, the market has deteriorated further across the board. While the East spot market has been relatively stable at very low levels, period rates went down further. The Atlantic market has softened significantly during the last week. On the Continent, we have seen tonnage accumulating and Supramax rates for scrap runs to the Med have gone down from around mid teens to around $10,000 last week. Some isolated bad examples, such as a 45,000 dwt mid 90s built ship, fixed for this run at $8,900, are certainly not always immediately representative but definitely illustrate the downward trend. A remarkable downturn has also been witnessed in the US Gulf where the index rate for a trip to Skaw Passero is now set to break the $12,000 mark. From ECSA the days are basically over where owners can demand a reasonable ballast bonus. Very low teens are now the target for grain charterers basis aps upriver for a trip to Skaw/Passero. For trips out, Supras should be able to earn mid $10,000 basis dop west Africa. It remains to be seen if the return of the Chinese market players will have a significant impact on rates” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
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