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Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
 The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increases in China’s daily steel output, feeding the excessive production in steel products, along with the recent restocking by Chinese steel mills that has started to take shape over the past couple of weeks has allowed for a positive trend to develop on the demand side, said Allied in its latest weekly report.
According to Allied's weekly report, prices for Iron ore have been reflective of this with the upward trajectory noted during 2016 having been boosted significantly over the past couple of weeks, as prices brake above the US$ 60 a tonne mark. The last time this trend in price had been noted was back in April with the price of iron ore peaking at US$ 70.5 a tonne and the Baltic Capesize index reaching a high of 1,160 both on the 27th of April.
George Lazaridis, Head of Market Research & Asset Valuations of Allied further said in its report, at the same time, and given the recent trends in the supply side of the Capesize size segment, the balance in the market is in better shape then what it was in the first quarter of the year.
In 2016, up until the end of July, the capesize fleet has decreased by 5 vessels which is equivalent to 0.33% change in the trading fleet. This is by no means anything major as a figure, especially given the fact that the market has been battling an oversupply of tonnage issue for more than two years now. What’s more is that the order book still sits at around 12.5% of the current trading fleet. As such, the fear is that although a temporary halt in fleet growth has been reached, with only 94 vessels in the trading fleet which are over 20 years of age and an equal amount of newbuildings still scheduled for delivery within this year with a further 53 and 43 scheduled for delivery within 2017 and 2018 respectively, it seems as though it will be very hard to keep the supply side trends as they are now. As such keen eyes are set to some sort of balance being brought about by any improvements in demand.
Commenting on Seaborne thermal coal trade George Lazaridis says, there has been little positive signs to note from the coal trade this year, with India being the main country noting positive import growth in 2015 and 2016, while it is also looking to develop and rely more so in its internal production rather than from imports from any of the major coal producing countries. As such the burden that falls on the Iron ore trade is not only to fuel its own growth but to do it by such a margin that could help cover the excess demand slack being generated from the weaker coal trade. As such this is the major issue to be battled on the demand side.
China, which is the world’s largest importer of Iron ore and the largest consumer of steel products, has not been in the best state in terms of economic growth to be able to fuel the same percentage growth in the trade as it had done in the past. The recent re-emergence of its real estate property boom has played a positive role, however as its central government’s focus has shifted more so in propping the service side of its economy, fear is that we will struggle to see double digit growth figures in the future for industrial commodities such as iron ore.
For the moment China’s mammoth size and still improving economy (albeit at a slower pace) still generates a fair amount of demand. To what extent and how this will be able to generate a new freight rate boom in the Capesize sector is hard to see, he concluded in its report.
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Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
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- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
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