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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
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