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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, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
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- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
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