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Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
 Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chinese iron ore restocking that traditionally picks up during Q4, is currently stealing the spotlight. The Capesize summer rally proved to be short-lived, with the average rate for the segment losing most of its gains and settling around $8,000/day. Spot rates have nonetheless increased more than 70% during last week.
Looking at the short term momentum, this appears to be favoring another boost for the big bulkers. Iron ore stockpiles at Chinese ports are currently well below the five year average. The 14% drop in imports that took place in August, has at the same time created an additional “gap” to be filled. The ratio of the present inventory of iron ore over steel production, which is also well below the five-year average, points out to a bigger than usual portion of iron ore stockpiles being consumed by Chinese mills and turned into steel. Despite the fact that domestic steel consumption has been faltering as of last year, production has found support in exports, which are up a whopping 27% in the first 8 months of the year. With low inventories of iron ore, steel production inching up last month, and a very strong trend of steel exports year to date, everything points out to another round of stockpiling and possibly another mini Capesize rally in the way, “mini” being the operative word here.
Although rates appear set to advance further in the following days, I am skeptic in regards to how long positive momentum can be sustained. The reality is that despite the decrease in Chinese iron ore production levels, these are still considerable given the current steel output in the country, setting a limit in imports and consequently the spikes Cape rates enjoy. As steel producers in China turn to higher quality imported iron ore and local iron ore producers exit the market amidst low prices, things certainly move towards the “right” direction but we are hardly there yet.
Additionally and even most importantly, China remains the top steel consuming market worldwide and despite the fact that shipping its steel to India and other SE Asian countries might be offsetting part of the gap created by the domestic consumption slowdown, it doesn’t even get close to filling it. With Chinese steel consumption and production expected to shift into an even lower gear, the amount of iron ore required by Chinese producers going forward is set to keep less and less dwt busy. Muddy waters for Capes.
By Eva Tzima
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
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.
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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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Showing 2816 to 2820 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
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