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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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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
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