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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 $14,000.
Source : Barry Rogliano Salles
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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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