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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- MS Steel International - UAE
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Planning Commission, India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
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