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Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole. According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, the arguments expressed claim that “with the steel industry being considerably shaken up after the softer results witnessed out of China throughout the year, the market has found itself once again plagued by overcapacity in terms of vessels and excess supply of steel products, possibly marking a further slowdown in steel production growth. Having now en-ered the final month of 2014 and with rates in the final quarter of the year having grossly disappointed the expectations that had accrued from the more promising final quarter of 2013, the market has now been left in shatters in terms of market sentiment, while the headache of the excessive order book continues to loom in the horizon”.
By contrast, those who voice more optimistic views, say that things could very well be better. According to them, “iron ore trade and in particular seaborne trade, has been mainly driven by Chinese demand for almost a dec-ade now and while demand for steel production may well be faltering, it doesn’t not look like we will see an outright reduction in demand for this vital commodity. At the same time, with prices of the ore having dropped to consecutively record 5 year lows over the past months, it has been Chinese internal iron ore production that has been most at threat. Both Australia and Brazil have considerably lower breakeven levels and can sustain their production at price levels considerably lower than their Chinese counterparts. This means that as the price drops further it will likely be seaborne imports that will have most to gain boosting their demand and as such their volumes”, Lazaridis noted.
He added that according to the optimists of the dry bulk market, “the considerable iron ore inventories that have amassed in most major Chinese ports are likely to be consumed fairly quickly by the ramped up Chinese steel produc-tion and at the same time the average levels of port inventories will have to be raised in order to better secure against any disruptions in production as they will be more reliant on imports moving forward”.
As a results, Allied’s analyst wonders which will be the case out of the above different scenarios. According to him, “there may well be an increasing rise for iron ore imports, however Australia has championed as main supplier to China for many years and as things are looking now, they have been gaining further ground during 2014, moving from a 51% market share in 2013 up to roughly a 58% market share now. This means that as their mines ramp up production and gain ground in the market they will likely eat up some of the further away competition as well, countering some of the positive effects of the higher reliance of China on imports, as Aussie ore also takes up volume from longer haul sources as well”.
According to the shipbroker’s view on the 2015 dry bulk market, “as things stand now it looks as a reasonable scenario for Chinese iron ore imports to rise by around 10-15% on a year-on-year ba-sis, while to put this number in perspective the respective number for 2014 looks close to around 16%. Having said that, this rise in imports is possibly going to translate into a more marginal 5% demand growth and even this figure seems to be optimistic. At the same time the schedule of newbuilding deliveries is quite well packed with over 139 vessels currently set to hit the water within 2015, while the lower bunker prices might add another headache as fuel consumption becomes less of an issue and many charter-ers start to push for higher speeds and in turn further increase the total annual carrying capacity of the Capesize fleet”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Thai Mozambique Logistica
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