We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
 COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still standing high com-pared to last year, the anticipation for the freight market to recover, feels a bit more intense than usual. So what could Q4 be holding for dry bulkers?
Are we in for a similar end of year surge like the one witnessed last year?
In the case of the Capesize segment, all eyes are currently turned on China and the iron ore trade. In the beginning of the month, stock-piles at the country’s ports stood at record high levels. Although high levels of iron ore inventory usually reflect that strong steel production is anticipated, it doesn’t look like this is the case here. While steel production levels have been kept high throughout the first half of 2014, profits for the steelmaking industry have been sluggish. This most likely means that production remained at high levels through-out the year due to the Chinese government’s efforts to sustain growth with direct investments in the industry and in anticipation of greater future demand, a demand which has yet to be witnessed.
The continuously declining price of the commodity, which in June reached its lowest level since September 2012 has also sustained port inventories at high levels, despite the fact that end demand wasn’t keeping up pace. If we look back in the summer of 2013 things were dramatically different, with port inventories standing well below the historical average, at around 70 million tonnes, com-pared to 113.65 million tonnes a few weeks ago.
Since the restocking started in September of 2013, inventory levels have been on an upward trend, currently leaving little space for aggressive imports and even less room for Cape rates to thrive in the same way they did during the last quarter of last year.
Moving on to the smaller size segments, the upcoming grain season is what the market is currently focusing on and it looks like grains might come to the rescue this year as well. Europe has been witnessing excessive rainfall lately and as a result, the harvest, in France, Germany and other traditional grain producers, is being delayed and its quality jeopardized. This means that the EU will have to intensify its imports and consequently help seaborne trade volumes, with business in the Black Sea being the first beneficiary in line.
In fact, Russia is currently exporting wheat at record pace, as despite sanctions short term finance has not been affected and therefore wheat trade is not being obstructed. Ukraine’s exports are also due to keep the Black Sea busy, while both countries are experiencing a near record harvest.
Moving on to the other side of the Atlantic, the US has been con-firming that a bumper harvest is expected, while at the same time prices for the US grains have been fairing at very attractive levels. Similarly to the last quarter of 2013, it looks like Brazil will once again play an important role in the performance of the USG business in the following months. The country has temporarily eliminated the Common External Tariff, which is traditionally imposed on imports from non-Mercosul countries.
An identical policy was set last summer, just in time before North American wheat cargoes en-route to Brazil started flooding the USG and pushing rates for the geared sizes up. With Brazil being uncertain as to whether Argentina would be able to satisfy this year’s demand either, the country has again distanced itself from its traditional wheat supplier and a similar record volume of US imports is anticipated this year as well.
So it could well be the case that during Q4 we end up witnessing a market of two speeds, with the performance of the Capesize market lugging behind that of the geared sizes, as China appears to have turned its back on Capers for now. We are always in for a good surprise that could come in the form of stronger stimulus by the Chinese government or an upward revision of global growth.
Any hypothesis aside though, my sense is that we have hyper inflated our expectations for the last quarter of the year, in the same way we did at the end of 2013 for the entire 2014, while in terms of tonnage performance; bigger might not be better this fall.
Eva Tzima - Research Analyst
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
|
|
|
Showing 3576 to 3580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
|
| |
| |
|
