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Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
 There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the losses were more constrained: the BPI dropped -4.3% to 1,939, the BSI -4% to 1,545 and the BHSI -4.8% to finish at 786. Speculation is now rife concerning the fall in the iron ore price and whether it signifies a longer term trend in China. Ore prices experienced the biggest ever 7-day fall last week, and prices for immediate delivery of benchmark iron ore into China fell to $120/ ton on Friday, down from $181 on 7 September. Historically, demand for ore has softened in China in September and October, but has recovered in the build up to Christmas as the country faces the worst winter conditions. This year the slump has lasted longer than normal, with low steel prices and credit problems discouraging buyers. However the current spot price is close to the break-even production price for Chinese domestic producers, suggesting to many that the international price will not fall much below that. Though CISA says it believes the price will fall further, other sources say there is no change to the fundamentals and buyers are withholding purchases in order to see where the market shakes out.
Capesize
The correction expected the previous week was finally apparent this week, with low levels of activity especially in the Pacific forcing rates down. Overall the 4TC dropped 9%, falling to $28,214 — the first time it has slipped below the $30,000 mark since 19 October. The main driver was an absence of Australian shippers, with the Hedland-Qingdao route seeing the most severe decline. This led to tonnage ballasting to Brazil, but here too cargo volumes were thinner. In the paper market, there was a similar pattern with November contracts losing $5,000 by Friday w-o-w. Monday saw another $1,500 wiped off the 4TC, a trend which if it continues could signal bigger losses this week.
Panamax
Last week the Panamax market became quieter after the recent recovery. A clear pause in rising rates was recorded but we did not see the market dropping. The Panamax market has not said its last word however, while everyone expects a drop in rates in the near future. Transatlantic rates held up quite well in the $17,500-18,000 range or $22/pmt for USG to Continent voyage on LME, but P1A lost $700 over the same period. The number of open vessels did not build up as quickly as expected, but today’s update clearly indicates tonnage is building up now. In the Pacific, rates remained flat with high numbers seen for North Pacific voyage. P3A posted a $650 loss ending at $13,875 but some high fixtures were reported for very specific trades. Indonesia to China traded in the $9.40-$9.60 range in a downward trend and WCI to China trip lost some ground after being hot the last 3 weeks during the “postmonsoon rally”. The period market remained relatively stable in the high $14,000s per day for 4-6 months, with short period the main period traded for obvious reasons.
Supramax/Handy
After a few weeks of a rising BSI, the trend has reversed again. The BSI lost about 4%, while the average of the TC routes lost $649 from Friday to Friday to reach an average of $16,155. The market was dropping heavily in the Pacific and the Nopac round voyage lost $1,607 to reach $12,217 by the end of the week. In the Atlantic the rates were coming off as well but at a slower rate. The US Gulf remained strong, with Supras getting fixed to the Far East at about $34,000 while the same route was fixed in the $36,000 the week before. Out of West Africa, Supras were getting about $14,000 for a trip via ECSA with redelivery in the Med. The Continent remained strong due to a lack of tonnage, and a Supra was fixed $17,500 delivery Continent via Baltic to the Red Sea with redelivery Port Said. Supra rates in the Pacific have been sliding fast. Iron ore exports from India, especially from ECI have all dried up. To add to that, Chinese demand for iron ore as well as coal has subsided and the prices for these commodities are falling fast. The short term perspective looks gloomy and owners are trying to give out their tonnage on short period, with Supras aiming for around $14,000.
Source : Barry Rogliano Salles
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
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