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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, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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