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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
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Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
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- Tata Chemicals Ltd - India
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- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
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- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
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- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
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- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
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- Eastern Energy - Thailand
- Independent Power Producers Association of India
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- Goldman Sachs - Singapore
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- Australian Commodity Traders Exchange
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- Ministry of Mines - Canada
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- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
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- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
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