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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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Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
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- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
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- Renaissance Capital - South Africa
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- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
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- Ministry of Transport, Egypt
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- Indian Oil Corporation Limited
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- Minerals Council of Australia
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- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
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- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
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- Karaikal Port Pvt Ltd - India
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- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
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- Energy Development Corp, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
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