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