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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, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- The University of Queensland
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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