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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
 By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with the demand for such vessels skyrocketing over the last couple of weeks. The gains noted for Capes are certainly impressive when considering that rates have recovered from below US$ 4,000/day noted back in June 2012!
As a comparison, this time last year, iron ore had “crashed” down to just US$ 86/tonne, in a sudden shift that took the industry by surprise. This had primarily been the drive for last year’s seasonal round of restocking, however it seems that it was nowhere close to the excessive demand witnessed over the past couple of days.
Capesize vessels provide the best insight into the health of the Chinese economy; and despite analysts having projected a slowdown in Chinese growth; China continues to import in order to replenish its supply. China's aggressive iron ore restocking has encouraged a surge in demand while near-term prospects remain promising!
China is forced to import iron ore, as their inventories have declined significantly, down by 27% from their February 2012 highs. There have been large volumes of Chinese buying and restocking from both Australia and - more importantly - Brazil and the year could end on a high note… But the question that's on everyone's mind at the moment is, how long will this latest Capesize rally last?
We expect Capesize rates to remain firm as long as Chinese iron ore restocking continues. Having said that, we have several examples from the recent past, where once the seasonal restocking process was over, we witnessed drops in freight rates which were just as quick as their preceding rise.
However, the present surge looks likely to be sustained for a bit longer, as it appears to be supported by improving fundamentals in China's steel production and consumption. All the evidence points towards the fact that steel production and consumption in China is to continue to steadily grow, maintaining China’s iron ore imports at healthy levels in respect to the supply of vessels.
What is worth highlighting here is, that for the moment, only iron ore demand has picked up considerably and it has mostly been Capesize owners that have basked in the sun, while there has been limited spill-over effects noted in the panamax sector and at the same time Supras and Handies seem to be mostly unaffected.
Will this boost in freight rates remain limited only to the larger segments or will we eventually see benefits trickle down to the smaller sizes?
For the moment it seems as though these surplus rates are a privilege only the Capes can indulge in and as we have yet to see any spikes in demand for commodities such as grain or coal, the mere positive sentiment created by higher earnings may not be enough yet to provide a solid foundation for a complete dry bulk market recovery...
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
Tuesday, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
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Showing 4066 to 4070 news of total 6871 |
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- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
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