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Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
 In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. The world’s second largest mining group, Rio Tinto, is also ramping up its production of low-cost iron ore and following the port infrastructure upgrades completed early next year, the company expects to export at an annual rate of 360 million tonnes starting 2015 onwards. Vale, in third place, is competing with the geographically well placed Australian mining majors who can nowadays ship from Dampier to China abt 160,000 metric tons of iron ore on a 2007 built capesize bulk carrier at a rate of only US$ 7.7 per tonne.
The question is if and when these production rates will boost the declining capesize market. The high output of iron ore from low-cost producing countries such as Australia and Brazil coupled with the fact that almost 20%-30% of the domestic Chinese iron ore mining groups have closed, is a good sign. Looking at the Chinese demand on the other hand, construction activity is thin during the summer and the inventory of imported iron ore stockpiled at major ports still stands at the high levels of approximately 113.6 million tonnes as of last Friday.
The very low freight rates for panamax bulk carriers are apparently correlated with the current dynamics in the seaborne trade for coal and grain. The coal industry for example is in freefall mainly as a result of the overhang of low-cost supply and subsequently the current freight rates for such vessels loading from major coal exporting countries are very low. There are also major environmental concerns when it comes to coal trade in general and moving forward this will have an impact on global trade. Part of the US President Barack Obama’s policy is to significantly reduce the emissions from the coal-fired power plants, so that means there will be an interesting effect on domestic demand for US coal. On the other hand, US coal exports to major consumers in Asia are also volatile since they face competition from Australia and Indonesia. In India, Coal India Limited (CIL) the world’s largest coal miner, has failed to raise its output fast enough forcing India to import millions of tonnes for its thermal power plants in a country where more than 50% of the country’s electricity is generated using coal. Insufficient reserves are particularly problematic this year in India however it is not clear if this will have an actual effect on the freight rates in the panamax segment.
For panamax owners carrying soymeal grains, specifically the ECSA to China route was promising as usual but it still takes too long for the soymeal cargoes to reach the loading ports, coming out mainly from Brazil and Argentina. As a result, freight rates now have tumbled for such cargoes ex ECSA. We can still notice the long waiting times at the loading ports and the cancellations from the Chinese importers who are affected by the loss-making soya meal prices in the Chinese market. Many ship operators expected a repeat of last year’s strong seasonal soybean volumes so early this year ballasting to ECSA was considered as promising, however ultimately the number of available cargoes was not substantial, especially for all those 100 vessels that were all repositioned within February.
From our perspective, it’s always good to see good high production levels especially from major groups in the main dry bulk industry that could eventually drive the freight rates up at some point in the future, let’s just hope that it will happen soon.
By Christopher T. Whitty
Marketing Manager - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Analysts:
Mr. George Lazaridis
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
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- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- MS Steel International - UAE
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
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