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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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Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
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- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
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- IEA Clean Coal Centre - UK
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- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
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- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
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- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
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- LBH Netherlands Bv - Netherlands
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- Star Paper Mills Limited - India
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- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- London Commodity Brokers - England
- VISA Power Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
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- Global Coal Blending Company Limited - Australia
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- Wood Mackenzie - Singapore
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- Mintek Dendrill Indonesia
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- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
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- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
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- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
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- Directorate General of MIneral and Coal - Indonesia
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- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
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- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
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- Miang Besar Coal Terminal - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
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- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Videocon Industries ltd - India
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- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
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- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
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- Bangladesh Power Developement Board
- Deloitte Consulting - India
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- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
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- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
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- Electricity Generating Authority of Thailand
- Planning Commission, India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
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- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
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- Baramulti Group, Indonesia
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- Intertek Mineral Services - Indonesia
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- Tamil Nadu electricity Board
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- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
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