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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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- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
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- Marubeni Corporation - India
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- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
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