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Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
 In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. The world’s second largest mining group, Rio Tinto, is also ramping up its production of low-cost iron ore and following the port infrastructure upgrades completed early next year, the company expects to export at an annual rate of 360 million tonnes starting 2015 onwards. Vale, in third place, is competing with the geographically well placed Australian mining majors who can nowadays ship from Dampier to China abt 160,000 metric tons of iron ore on a 2007 built capesize bulk carrier at a rate of only US$ 7.7 per tonne.
The question is if and when these production rates will boost the declining capesize market. The high output of iron ore from low-cost producing countries such as Australia and Brazil coupled with the fact that almost 20%-30% of the domestic Chinese iron ore mining groups have closed, is a good sign. Looking at the Chinese demand on the other hand, construction activity is thin during the summer and the inventory of imported iron ore stockpiled at major ports still stands at the high levels of approximately 113.6 million tonnes as of last Friday.
The very low freight rates for panamax bulk carriers are apparently correlated with the current dynamics in the seaborne trade for coal and grain. The coal industry for example is in freefall mainly as a result of the overhang of low-cost supply and subsequently the current freight rates for such vessels loading from major coal exporting countries are very low. There are also major environmental concerns when it comes to coal trade in general and moving forward this will have an impact on global trade. Part of the US President Barack Obama’s policy is to significantly reduce the emissions from the coal-fired power plants, so that means there will be an interesting effect on domestic demand for US coal. On the other hand, US coal exports to major consumers in Asia are also volatile since they face competition from Australia and Indonesia. In India, Coal India Limited (CIL) the world’s largest coal miner, has failed to raise its output fast enough forcing India to import millions of tonnes for its thermal power plants in a country where more than 50% of the country’s electricity is generated using coal. Insufficient reserves are particularly problematic this year in India however it is not clear if this will have an actual effect on the freight rates in the panamax segment.
For panamax owners carrying soymeal grains, specifically the ECSA to China route was promising as usual but it still takes too long for the soymeal cargoes to reach the loading ports, coming out mainly from Brazil and Argentina. As a result, freight rates now have tumbled for such cargoes ex ECSA. We can still notice the long waiting times at the loading ports and the cancellations from the Chinese importers who are affected by the loss-making soya meal prices in the Chinese market. Many ship operators expected a repeat of last year’s strong seasonal soybean volumes so early this year ballasting to ECSA was considered as promising, however ultimately the number of available cargoes was not substantial, especially for all those 100 vessels that were all repositioned within February.
From our perspective, it’s always good to see good high production levels especially from major groups in the main dry bulk industry that could eventually drive the freight rates up at some point in the future, let’s just hope that it will happen soon.
By Christopher T. Whitty
Marketing Manager - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Analysts:
Mr. George Lazaridis
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Australian Coal Association
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
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