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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Economic Council, Georgia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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