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Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in cargo volume is a very clear sign that the capesize market is in recovery.
Capesize rates will continue to wax and wane, though, and "recovery" does not mean rates will now simply go up. But it does mean that rates now are able to rise on the strength of robust cargoes, which is very significant as during the first three quarters of last year this was certainly not the case.
During most of the first three quarters of 2012, capesize rates were unable to escape the $3,000 and $9,000 cycle, with fluctuations largely driven by owners idling available Capes when rates approached roughly the $3,000/day level and returning vessels when rates approached approximately $9,000/day.
During this time, Cape rates were not as much fluctuating due to changes in cargo volume. as they were due to owners changing the spot availability of capesize vessels. Today, the capsize market is surely in recovery and rates are now sensitive to changes in cargo volume again.
This is why rates have surged recently during the current period of Chinese iron ore re-stocking. Capesize fleet growth has remained low for many months and has ushered in a period of recovery for the capesize market. Capesize rates being able to surge on robust iron ore cargoes is recovery.
This has only been able to occur due to many months of capesize fleet growth staying low.
By: Jeffrey Landsberg | 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.
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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Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Bhatia International Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
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- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
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