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Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore Research & Consultancy said in its latest report.
Chinese iron ore port stockpiles have now fallen to their lowest level since May and are 26.6 million tons (-27%) lower than where they stood a year ago. The historically low level of iron ore stockpiled at Chinese ports is very encouraging, and has been a contributing factor behind the strength in demand for imported iron ore cargoes and recent surge in cape size freight rates, said Commodore Research & Consultancy.
Commodore Research & Consultancy further said in its research report, 23 cape size vessels were chartered to haul iron ore in the spot market last week (all of the vessels were chartered to deliver iron ore to Chinese buyers). The last seven weeks have seen an average of 22.5 cape size vessels chartered to haul iron ore, with each week seeing at least 20 cape size vessels chartered to haul iron ore. Prior to the last seven weeks, this year had seen an average of only 15.5 cape size vessels chartered to haul iron ore.
The consistently large amount of cape size vessels being chartered to haul iron ore cargoes (predominantly to Chinese buyers), combined with cape size fleet growth remaining relatively low, has caused spot cape size availability to become much tighter as we have predicted. This tightness helped cape size rates find significant support on Wednesday and Thursday. Going forward, we continue to believe that there will be brief periods where spot availability of cape size vessels will be very tight and will lead to short-term spikes in Cape rates that will exceed $1,000 per day. Much lower cape size fleet growth this year has now allowed the market to re-enter a phase where cape size rates are much more sensitive to changes in cargo volume and spot demand for available cape size vessels, Commodore Research & Consultancy said.
Commodore Research & Consultancy forecasts, rates, of course, will continue to decrease at times, but overall prospects for cape size rates are encouraging.
About Commodore Research & Consultancy
Commodore Research & Consultancy is an independent New York City-based consultancy that focuses on the global demand, supply, and seaborne trade of industrial and agricultural commodities, with a particular focus on China. Commodore Research & Consultancy's analysts handle a wide variety of consulting requests and custom reports. Commodore Research & Consultancy also offers two standard report subscriptions (Dry Bulk Report Subscription and China Report Subscription).
Views expressed herein are personal views of the author and not that of COALspot.com. We welcome article submissions from experts in the areas of coal, mining, shipping, etc. To submit your articles please click here
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Eastern Coal Council - USA
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- Indian Oil Corporation Limited
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- The University of Queensland
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- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
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- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
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- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
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- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
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- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
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- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
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- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
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- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Medco Energi Mining Internasional
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- VISA Power Limited - India
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- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
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- Lanco Infratech Ltd - India
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- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
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