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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Planning Commission, India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
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