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