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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
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