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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Australian Coal Association
- Planning Commission, India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
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