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