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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Posco Energy - South Korea
- Sical Logistics Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
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