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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
 China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world combined.
Beijing's war on smog has concentrated on the country's steelmaking hubs near the capital where mandated cuts of as much as 50% came into actual effect last month. The Chinese government announced that it would shut about a third, or around 1,000, of the country's iron ore mines which struggle with average grades of only around 20% iron ore content.
Chinese imports of high-quality iron ore fines and lump ore from Australia, Brazil and South Africa topped 100m tonnes for the first time in September, but plunged by 23% last month to 79.5m tonnes as steelmakers work through inventory amid lower production. Total shipments for the first ten months of the year is up 6.3% to 896m tonnes.
Iron ore spot markets rose strongly again yesterday, the price for benchmark iron ore 62% fines, jumped by 1.4% to $63.47 a tonne, adding to the 1.7% gain achieved on Friday last week. As a result of the back-to-back gains, it now sits at the highest level since September 27.
We see strong positive signs that restrictions on steel production in China are now fully in force and are crimping iron ore demand from local mills. Chinese authorities have enforced steel production cuts between mid-November and mid-March 2018 in an attempt to improve air quality in northern Chinese provinces during winter.
In general, there are concerns that against weakening demand from steel mills, the increase in China’s iron ore production might lead to less import appetite, weighing down on seaborne prices to a certain extent.
In any case we have a positive outlook. Capesize rates, which since August have recovered to their strongest levels in three years, are likely to retain their underlying strength until at least the first quarter next year.
Average earnings for Capesize ships, which typically haul around 180,000 tonnes of iron ore, are around $26,350 per day, compared with $8,208 per day last year. Overall iron ore cargo volumes also grew by 4 percent last year compared with 2 percent growth in the capesize fleet in 2016.
Charter rates on key routes such as the Western Australia-China route fell to $7.64 per tonne on Wednesday last week against $8.31 per tonne the week before. Rates hit $8.98 per tonne on Oct. 17, the highest since November 2014.
Freight rates on the route from Brazil to China slipped a bit to $18.25 per tonne on Wednesday, from $18.41 a week earlier. They marked $19.60 per tonne on Sept. 25, still the highest since November 2014. Looking at the big picture there is a strong momentum building up.
By Christopher T. Whitty
Commercial Manager - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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