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Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to return to the global market. According to this week's report from shipbroker 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!"
According to Intermodal's SnP broker, Mr. Tasos Papadopoulos, "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", he noted.
He added that "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", Papadopoulos noted.
But the question that's on everyone's mind at the moment is, how long will this latest Capesize rally last? According to Intermodal's analyst, "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", the shipbroker noted.
As per Mr. Papadoupolos' analysis, "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? According to the analyst, "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", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Planning Commission, India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
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