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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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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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