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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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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
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