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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Posco Energy - South Korea
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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