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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- PTC India Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
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