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