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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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- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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