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Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to return to the global market. According to this week's report from shipbroker Intermodal, "the surge in iron ore trade has translated into a massive boost in daily earnings for capes; with the demand for such vessels skyrocketing over the last couple of weeks. The gains noted for Capes are certainly impressive when considering that rates have recovered from below US$ 4,000/day noted back in June 2012!"
According to Intermodal's SnP broker, Mr. Tasos Papadopoulos, "as a comparison, this time last year, iron ore had “crashed” down to just US$ 86/tonne, in a sudden shift that took the industry by surprise. This had primarily been the drive for last year’s seasonal round of restocking, however it seems that it was nowhere close to the excessive demand witnessed over the past couple of days", he noted.
He added that "Capesize vessels provide the best insight into the health of the Chinese economy; and despite analysts having projected a slowdown in Chinese growth; China continues to import in order to replenish its supply. China's aggressive iron ore restocking has encouraged a surge in demand while near-term prospects remain promising!
China is forced to import iron ore, as their inventories have declined significantly, down by 27% from their February 2012 highs. There have been large volumes of Chinese buying and restocking from both Australia and - more importantly - Brazil and the year could end on a high note", Papadopoulos noted.
But the question that's on everyone's mind at the moment is, how long will this latest Capesize rally last? According to Intermodal's analyst, "we expect Capesize rates to remain firm as long as Chinese iron ore restocking continues. Having said that, we have several examples from the recent past, where once the seasonal restocking process was over, we witnessed drops in freight rates which were just as quick as their preceding rise.
However, the present surge looks likely to be sustained for a bit longer, as it appears to be supported by improving fundamentals in China's steel production and consumption. All the evidence points towards the fact that steel production and consumption in China is to continue to steadily grow, maintaining China’s iron ore imports at healthy levels in respect to the supply of vessels", the shipbroker noted.
As per Mr. Papadoupolos' analysis, "what is worth highlighting here is, that for the moment, only iron ore demand has picked up considerably and it has mostly been Capesize owners that have basked in the sun, while there has been limited spill-over effects noted in the panamax sector and at the same time Supras and Handies seem to be mostly unaffected".
Will this boost in freight rates remain limited only to the larger segments or will we eventually see benefits trickle down to the smaller sizes? According to the analyst, "for the moment it seems as though these surplus rates are a privilege only the Capes can indulge in and as we have yet to see any spikes in demand for commodities such as grain or coal, the mere positive sentiment created by higher earnings may not be enough yet to provide a solid foundation for a complete dry bulk market recovery", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Indo Tambangraya Megah - Indonesia
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- Electricity Authority, New Zealand
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- The State Trading Corporation of India Ltd
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- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
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- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
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- Intertek Mineral Services - Indonesia
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- Mercator Lines Limited - India
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- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
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- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
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- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Sindya Power Generating Company Private Ltd
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- Merrill Lynch Commodities Europe
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- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
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- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
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- Wood Mackenzie - Singapore
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- SMC Global Power, Philippines
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- Edison Trading Spa - Italy
- Indian Energy Exchange, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
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- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
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- Orica Mining Services - Indonesia
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- Iligan Light & Power Inc, Philippines
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- Australian Coal Association
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- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Planning Commission, India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
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- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
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