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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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Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
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- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
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- Chamber of Mines of South Africa
- The University of Queensland
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- Samtan Co., Ltd - South Korea
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- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
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- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
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- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
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- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
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- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
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