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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Marubeni Corporation - India
- The University of Queensland
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
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