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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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Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
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- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
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