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