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