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Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
 COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been able to rise by such a large amount so quickly, as vessel availability in both the Atlantic basin and Pacific basin have become tighter. Going forward, demand for capesize vessels is poised to rise even further as both Australian and Brazilian iron ore production is set to rise much further through the end of the year (the most significant element is that Brazilian iron ore production is set to rise by an extremely large amount and much less capesize vessels are available in the Atlantic basin -- discussed in greater detail below).
Coal shipment volume is also increasing in both the Atlantic and Pacific.
European coal port stockpiles are at lows not seen since April, Indian power plant coal stockpiles are at critical lows, and China's annual seasonal rise in rainfall (and hydropower production) is coming to end. Demand for coal in Europe, India, and China has increased this month and is set to find greater support during the upcoming months. This is supporting the capesize market, panamax market, and handymax market.
In total, 10 dry bulk vessels (including 9 Capes) were chartered to haul Brazilian iron ore cargoes in the spot market last week. This was 4 more than were chartered during the previous week and the most chartered in any single week since the first week of July. Vessel availability in the Atlantic basin has already been tight and the increase in demand for vessels to ship Brazilian iron ore cargoes is leading to a strong increase in capesize rates. Much more Brazilian iron ore will be exported during September through the end of the year, and capesize rates are set to rise to much higher levels this year. In particular, Vale's total iron ore shipments during the second half of this year are expected to total at least 176.3 million tons, which would mark a huge increase of 31.6 million tons (22%) from shipments seen during the first half of this year.
The first half of this year saw a considerable decrease in Brazilian iron ore shipments (which is normal), while second half of the year is seeing a huge jump in Brazilian iron ore shipments (which are going to increase much further during the upcoming weeks and months).
Capesize rates are finding significant support now as a result, and are set to rise to much higher levels. Both Atlantic basin and Pacific basin capesize availability will become much tighter. It is not just Vale increasing iron ore production -- all three of the major iron ore miners in Australia are also further increasing iron ore production through the end of this year.
Demand for coal in Europe, India, and China has also increased recently and is set to find more support during the upcoming months. At the same time, the capesize fleet is now growing by only a relatively small amount. In China, there also remains great demand for imported iron ore. Not surprisingly, iron ore imports surge again last month reaching a robust 82.5 million tons (the third largest amount ever imported). Chinese steel mills continue to consume a much greater amount of imported iron ore over domestic iron ore this year.
Steel mills have benefited greatly from the large decline in iron ore import prices seen this year and also continue to favor the consumption of iron ore imports, as imports are of much higher quality than domestic iron ore mined in China and pollutes the environment much less. These factors are all supporting the capesize market.
- Commodore Research -
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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
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