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Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
 COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set to become even tighter in the near future once Drummond coal cargoes return to the market (when the strike is resolved) and also due to the very large amount of Brazilian iron ore cargoes that have continued to surface. So far this week, 10 capesize vessels have been chartered to haul Brazilian iron ore cargoes. This is a very large amount, and already exceeds the robust 9 capesize vessels that were chartered to haul Brazilian iron ore cargoes during all of last week.
The last time that 10 or more capesize vessels were chartered to haul iron ore cargoes in a single week was the Week Ending November 16, 2012. Chinese demand for imported iron ore is currently very strong, which is helping capesize rates to surge. However, the capesize market will again benefit from the current level of activity as spot capesize availability will find itself even tighter in the near future. It is extremely encouraging for the capesize market that so many capesize vessels have recently been chartered for long-haul Brazil to China iron ore exports. In addition, Atlantic basin spot capesize availability will become even more tight whenever the Drummond coal strike officially comes to an end.
For the capesize market, near term prospects remain encouraging. There will be fluctuations whenever there are brief dips in Chinese demand, but overall we believe in the weeks and months to come there will be days when average daily capesize rates easily increase by over $3,000 in a single day. That’s the beauty of dry bulk shipping. Demand for vessels is quite inelastic and not very responsive to changes in prices. When a charterer needs a vessel, he (she) needs a vessel. And when spot vessel availability is tight, an environment is created where freight rates are prone to large increases. With some many capesize vessels recently being chartered to haul long-haul Brazilian iron ore cargoes -- and with an increase in Drummond coal cargoes being poised to re-emerge in the market at some point like in the near future -- the already tight capesize market will become even tighter.
By: Jeffrey Landsberg | Managing Director, Commodore Research & Consultancy
About Commodore Research & Consultancy
Commodore Research & Consultancy is an independent New York City-based consultancy that focuses on the global demand, supply, and seaborne trade of industrial and agricultural commodities, with a particular focus on China. Commodore Research & Consultancy's analysts handle a wide variety of consulting requests and custom reports. Commodore Research & Consultancy also offers two standard report subscriptions (Dry Bulk Report Subscription and China Report Subscription).
Views expressed herein are personal views of the author and not that of COALspot.com. We welcome article submissions from experts in the areas of coal, mining, shipping, etc. To submit your articles please click here
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Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
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- Bangladesh Power Developement Board
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- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
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- Indonesian Coal Mining Association
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- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
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- Price Waterhouse Coopers - Russia
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- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Planning Commission, India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
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