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Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
 COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian iron ore shipments surge ever year. Data released from Vale last week shows that iron ore shipments during the first half of this year, while up considerably on a year-on-year basis, decreased from the second half of 2013 by 23.7 million tons (-14%). Iron ore shipments during the first half of this year totaled 144.7 million tons, while shipments during the second half of 2013 totaled a record 168.4 million tons.
Such a large decrease in Vale’s iron ore shipments occurs during the first half of every year, as Brazilian iron ore production is very seasonal. Every year sees a surge in Brazilian iron ore production (and shipments) occur during the second half of the year, followed by a large decline during the first half of the following year, and then a large increase again during the second half of that year. For example, the first half of 2013 saw Vale’s iron ore shipments total 137.2 million tons. The second half of 2013 saw Vale’s iron ore shipments increase to 168.4 million tons. The first half of 2014 saw Vale’s iron ore shipments fall to 144.7 million tons. The decline is normal, expected, and puts pressure on capesize rates.
A very large decrease in Vale’s iron ore shipments occurs during the first half of every year, and yet capesize rates still managed to average $14,135/day during the first half of this year. This is a far cry from the first half of 2013, which saw capesize rates average only $6,136/day. At present, some analysts hold a flawed view of the capesize market. In spite of the annual decline in first half of the year Brazilian iron ore shipments, capesize rates still averaged $14,135/day and saw several short-term and medium-term surges in rates. As recently as June, capesize rates peaked three separate times with all three of June’s peak coming just a few hundred dollars shy of exceeding the $15,000 level.
While Brazilian iron ore shipment volume and capesize rates experienced a lull in July, a very large surge in Brazilian iron ore shipments is about to begin. Vale’s performance report released last week showed that its iron ore shipments during the first half of this year totaled 144.7 million tons. Vale also announced that its total shipment volume for this year is expected to reach at least 321 million tons. Vale is extremely likely to meet this target (and very possibly exceed it), which means that Vale's iron ore shipments during the second half of this year will total at least 176.3 million tons. This would mark an increase of 31.6 million tons (22%) from shipments seen during the first half of this year.
Great strength in the capesize market has all along been set to occur during the second half of this year; the fundamentals have not changed and Brazilian iron ore shipment volume is following its normal seasonal trends. At the same time, Vale’s iron ore production expansion program also remains on schedule. Going forward, a very large surge in Brazilian iron ore shipments is about to occur.
- Jeffrey Landsberg -
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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
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- Electricity Generating Authority of Thailand
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- Neyveli Lignite Corporation Ltd, - India
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- Mjunction Services Limited - India
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- Petron Corporation, Philippines
- Romanian Commodities Exchange
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- Bhoruka Overseas - Indonesia
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- Goldman Sachs - Singapore
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- European Bulk Services B.V. - Netherlands
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- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
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- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
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- Wilmar Investment Holdings
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- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
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- Dalmia Cement Bharat India
- The University of Queensland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
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- Economic Council, Georgia
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- White Energy Company Limited
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- Sindya Power Generating Company Private Ltd
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- SMC Global Power, Philippines
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- Kaltim Prima Coal - Indonesia
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- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
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- Eastern Coal Council - USA
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- Salva Resources Pvt Ltd - India
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- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
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- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
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- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
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- Trasteel International SA, Italy
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- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
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