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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Australian Coal Association
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Planning Commission, India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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