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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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- PTC India Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
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