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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 $14,000.
Source : Barry Rogliano Salles
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
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