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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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Rio Tinto Coal - Australia
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