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Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
 The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-quality iron ore is now trading up around 47% from its 2017 lows just two months ago as Chinese anti-pollution crackdown on its heavy industries has forced the country's steelmakers to chase high-quality imports and avoid domestic producers that contend with Fe content in the 20%-range. Environmental inspections in China have caused great impact on prices of the commodity. Production in some mines, processing plants and mills is already being disrupted. The import price of high quality 62% Fe content iron ore in North China jumped again as the country's steelmakers stoke production ahead of mandated cuts going into winter.
In general, China's steel production last month rose to a record 74m tonnes, which is more than 10% compared to last year, with some analysts believing that, up to a certain extent, this has to do with traders worrying about a steel supply crunch in the near future. Evidently, Beijing wants to ensure that the industry cuts output by as much as 50% during winter months to fight smog, particularly in its capital city and surrounding areas. As an example, in Hebei province which is one of China's key producing regions, steelmakers said they will have to comply with stringent new emissions regulations by the September 1st deadline.
Last week, Capesize iron ore freight rates were flirting with 2017 highs on all key iron ore routes from Australia, Brazil and South Africa to China on robust tonnage demand and seasonal pickup coupled with a firming freight derivative market.
The Tubarao to Qingdao 170,000 mt (plus/minus 10%) route was assessed Thursday at $17.25/wmt, which corresponded to a TCE of $19,308/day. The Saldanha Bay-Qingdao 170,000 mt (plus/minus 10%) route was assessed at $13/wmt, with a TCE of $19,879/day. The Port Hedland, Australia to Qingdao, China route, for 170,000 mt (plus/minus 10%) was also assessed at $7.50/wmt, the highest so far this year. The previous 2017 high was $7.20/wmt on March 28. The push in the Port Hedland-Qingdao freight rate saw the time charter equivalent (TCE) assessed at $19,308/day on this route.
Fearing steel shortages in Q4 2017 and Q1 2018, participants are said to be stepping up the stockpiling steel currently. While the mood is upbeat in the Capesize segment, some market watchers feel the burgeoning vessel supply side could be a concern. The market seems like it is firming up on sentiment, but analysts are still concerned that the current supply of ore is more than matched by the supply of Capesizes.
Over the last two years, the oversupply of Capesize vessels was keeping a lid on freight levels. Approximately 69 Capesize plus VLOC newbuildings have been delivered so far this year, the same as in the corresponding period last year.
However, demolitions of older Capesize tonnage have taken a backseat with just 20 vessels torched year to date compared with 71 ships in the same period last year.
By Christopher T. Whitty
Commercial Manager
Cotzias Intermodal Shipping Inc.
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
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- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
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