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Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
 The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself in” back in 2016 and pushed back to respectable earning levels during the latter half of 2017 and this year.
According to the latest weekly report from Allied ship broking, at the same time, The Baltic Capesize Index (BCI) hit the 3,632 basis points one week ago, which was its highest point in the year so far. In addition to this, the average figure so far for the summer period has outperformed the respective figures quoted for the same seasonal period for the past 5 years. While we are at a peak point for the year, it seems bizarre that this is taking place right in the midst of August, given that historically the first half of August has been a softer time point in the year, while the market usually recovers from a low point in the second half of August.
The report further said, having already covered the coal market in previous weeks and how has played its part in helping boost freight market conditions in the short run for the bigger size segments, it is time we taken a second look at is going on in most critical commodity (in terms of volumes shipped) for the dry bulk space. Iron ore has held a bullish face as of late, with its price moving close to $70/ton, well above the once considered normalization level of around $60/ton. Strong conditions noted in the steel market, as well as reduced stock piles have helped push considerably for a considerable tightening in the market and a strong jump in terms of pricing. Indicatively, for the month of June, steel output in China was up by around 7.5% year-on-year, while in the face of the trade dispute it currently finds itself in, the short-term economic growth has been boosted substantially as most are seemingly seeking to boost production volumes before the “storm” hits.
Thomas Chasapis, Research Analyst of Allied says in his latest weekly report, having mentioned the positive drivers, it seems as though things can be said to look as rosy when looking at the macroeconomic prospects of this commodity’s market. In the short run, even with most factors laying in favor of a robust market, a softening Chinese currency can surely alter the dynamics and weaken trade as the local price starts to escalate. Furthermore, signs of easing back of the Chinese economy already being noted and given that we haven’t seen the true impact of its current trade disruptions with the United States, it is hard to see a scenario where by steel production volumes continue to rise at their current pace and in effect drive for ever higher demand for iron ore imports.
According to Thomas Chasapis, all-in-all, the scene in the market can be sometimes rather deceptive. So far, healthy appetite for steel products and strong import volumes on the back of falling Chinese domestic iron ore production and shift towards ever more higher-grade iron ore (from Australia and Brazil) has driven many to speculate on a very firm final quarter for the year, with a rally that they feel will prove to be heftier than that of the previous year. However, let’s not forget that there are still some “cracks” to be noted in the robustness of the current trend seen. Furthermore, there may well be signs that the overall seasonality patterns have changed somewhat, something that could well lead to a market peak prior to the fourth quarter. Nevertheless, this doesn’t necessarily indicate a bearish mode to be held either. Even if the market falls short on expectations this is still fair reason to anticipate a good performance for the remainder of the year, consisted by moderate earnings and an overall balanced state with no or limited exaggerations Thomas Chasapis concluded in its report.
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Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
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- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
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