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