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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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Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
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