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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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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- The University of Queensland
- Africa Commodities Group - South Africa
- Planning Commission, India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
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