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Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
 “One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry bulk market. The oversupply of iron ore has led to prices crashing and smaller producers’ position becoming more precarious by the day. On the other hand, for the maritime industry, this exact issue of oversupply is fuelling a rebound in dry bulk freight rates.
So, the issue moving forward will be, how long will the ongoing battle between the low-cost iron ore producers and the big three, i.e. Vale, Rio Tinto and BHP Billiton will last? According to the marketing manager of Towage & Port Agency with Cotzias Intermodal Shipping, Mr. Christopher T. Whitty, “we are moving into a new era in the iron ore sector and major analysts are already cutting down substantially their forecasts for the price of the commodity during 2015. The commodity traded at $75.38 on November the 6th, marking the lowest level since September 2009 and top researchers are talking about 2015 prices averaging around 80$ per ton. According to Rio de Janeiro-based Vale SA, the largest producer, “The oversupply won’t last forever as some smaller producers that started output when prices were much higher won’t be able to survive the slump”. Even now that the commodity’s price is at record low levels, the majors are still looking at the big picture and they both continue to ramp up production in both Brazil and Australia”, Whitty noted.
In the latest weekly report, Mr. Whitty stated that “from a maritime perspective, the oversupply of global iron ore is one of the main factors that could drive the demand for seaborne trade. The iron ore market fundamentals are changing to the extent where we all hope that the global surplus of the commodity will continue to fuel the rates for Capesize vessels over a prolonged period. The question is, how long it will take until the smaller producers will have to cease operations due to the lower industry price floor”.
It’s worth noting that “during last week, the iron majors in both Brazil and Australia were considered as relatively quiet and, as a result, freight rates declined week on week on the Tubarao to Qingdao route to $9.35 per tonne and on the Western Australia to China route to $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Parliament of New Zealand
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
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