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Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
 In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. The world’s second largest mining group, Rio Tinto, is also ramping up its production of low-cost iron ore and following the port infrastructure upgrades completed early next year, the company expects to export at an annual rate of 360 million tonnes starting 2015 onwards. Vale, in third place, is competing with the geographically well placed Australian mining majors who can nowadays ship from Dampier to China abt 160,000 metric tons of iron ore on a 2007 built capesize bulk carrier at a rate of only US$ 7.7 per tonne.
The question is if and when these production rates will boost the declining capesize market. The high output of iron ore from low-cost producing countries such as Australia and Brazil coupled with the fact that almost 20%-30% of the domestic Chinese iron ore mining groups have closed, is a good sign. Looking at the Chinese demand on the other hand, construction activity is thin during the summer and the inventory of imported iron ore stockpiled at major ports still stands at the high levels of approximately 113.6 million tonnes as of last Friday.
The very low freight rates for panamax bulk carriers are apparently correlated with the current dynamics in the seaborne trade for coal and grain. The coal industry for example is in freefall mainly as a result of the overhang of low-cost supply and subsequently the current freight rates for such vessels loading from major coal exporting countries are very low. There are also major environmental concerns when it comes to coal trade in general and moving forward this will have an impact on global trade. Part of the US President Barack Obama’s policy is to significantly reduce the emissions from the coal-fired power plants, so that means there will be an interesting effect on domestic demand for US coal. On the other hand, US coal exports to major consumers in Asia are also volatile since they face competition from Australia and Indonesia. In India, Coal India Limited (CIL) the world’s largest coal miner, has failed to raise its output fast enough forcing India to import millions of tonnes for its thermal power plants in a country where more than 50% of the country’s electricity is generated using coal. Insufficient reserves are particularly problematic this year in India however it is not clear if this will have an actual effect on the freight rates in the panamax segment.
For panamax owners carrying soymeal grains, specifically the ECSA to China route was promising as usual but it still takes too long for the soymeal cargoes to reach the loading ports, coming out mainly from Brazil and Argentina. As a result, freight rates now have tumbled for such cargoes ex ECSA. We can still notice the long waiting times at the loading ports and the cancellations from the Chinese importers who are affected by the loss-making soya meal prices in the Chinese market. Many ship operators expected a repeat of last year’s strong seasonal soybean volumes so early this year ballasting to ECSA was considered as promising, however ultimately the number of available cargoes was not substantial, especially for all those 100 vessels that were all repositioned within February.
From our perspective, it’s always good to see good high production levels especially from major groups in the main dry bulk industry that could eventually drive the freight rates up at some point in the future, let’s just hope that it will happen soon.
By Christopher T. Whitty
Marketing Manager - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
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