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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
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