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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
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