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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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Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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