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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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Showing 4871 to 4875 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
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