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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 $14,000.
Source : Barry Rogliano Salles
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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- ASAPP Information Group - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Australian Coal Association
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
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