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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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Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
Thursday, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
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- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
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