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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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Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
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- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
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- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
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- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
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- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
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