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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
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- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- The University of Queensland
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
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