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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, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
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