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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, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
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