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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
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