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