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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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Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
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- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
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