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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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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- The University of Queensland
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
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