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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 $14,000.
Source : Barry Rogliano Salles
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- The University of Queensland
- Minerals Council of Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
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