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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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
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