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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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Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
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Showing 1891 to 1895 news of total 6871 |
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
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