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Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
 The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its performance throughout 2016, riding on the back of a bullish market for coking coal increased demand for iron ore imports and severe weather delays in large parts of the Pacific, says Allied Shipping research in its latest weekly report.
According to the report, the spot rates for Capesize vessels had risen on Friday (23 September2016) to just over US$ 15,000 per day, its highest level in 2016 thus far and just above the level it had reached in the same period last year. The rate of increase has also been impressive, having increased by 39% in one week and by over 123% since the start of September.
This awe-inspiring rise, however, has few convinced as to its longevity and given the recent headlines in the Chinese press regarding in reference to the sharp rise in price of metallurgical coal (coking coal) it looks as though we may well see several dampeners being put on the market over the next couple of weeks. Allied further noted that the part of the surge has been the consequence of the curb in production by beleaguered miners in China, as the Chinese government tries to correct the glut in supply and at the same time permanently shut down debt-ridden mines in order to bolster operations for the remaining mines.
The effect has coincided with several other boosts to the market having caused the price of coal to sky-rocket and in turn bring about a heavy protest by China Iron and Steel Association. As such it is now anticipated that China’s state-owned miners will step in and increase their output in an attempt to mitigate the sharp rise.
Allied further noted, this may come at a bad point for Capesize vessels, as expectations are for the weather delays to subside over the coming days, while it could come at a point in the market where demand for iron ore and coking coal imports starts to slowly subside anyway. This could provide a significant “punch” to the market bringing with it a sharp and sudden drop in freight rates. This argument is pushed further when you compare this year’s market trends to last year and note how during the same period last year we were already past the peak in the Capesize market and were starting to feel the gradual and steady decline in freight rates which continued through the majority of the final quarter of the year, said George Lazaridis, Market Research & Asset Valuations of Allied.
This time around a lot will depend on how well demand from the steel industry in China continues to hold and by how much Chinese mines are willing to increase their output and how quickly. There is little expectations in the market however that we could see this recent rally continue to push at its current rate for much longer. The hope is though that we will be able to see rates hold more buoyant than they did last year.
George Lazaridis, Market Research & Asset Valuations of Allied noted that the good news is that the market can still support these sort of rallies and that demand can make short term come back even if these often prove to be nothing more than a “dead cat bounce”.
At the same time these sort of rallies provide a confidence boost and often help sentiment amongst owners to push for further improvements in the freight market while also allowing the smaller size segments to also feed off this positive psychology and drive time lagged improvements there, the Allied concluded.
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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- The University of Queensland
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
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