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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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Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Planning Commission, India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
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