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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 $14,000.
Source : Barry Rogliano Salles
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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
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