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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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
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