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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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Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Australian Coal Association
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
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