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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, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
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- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
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