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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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Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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