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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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
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- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
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