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Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
 COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a new era in the iron ore sector and major analysts are already cutting down substantially their forecasts for the price of the commodity during 2015. The commodity traded at $75.38 on November the 6th, marking the lowest level since September 2009 and top researchers are talking about 2015 prices averaging around 80$ per ton.
According to Rio de Janeiro-based Vale SA, the largest producer, “The oversupply won’t last forever as some smaller producers that started output when prices were much higher won’t be able to survive the slump”. Even now that the commodity’s price is at record low levels, the majors are still looking at the big picture and they both continue to ramp up production in both Brazil and Australia.
From a maritime perspective, the oversupply of global iron ore is one of the main factors that could drive the demand for seaborne trade. The iron ore market fundamentals are changing to the extent where we all hope that the global surplus of the commodity will continue to fuel the rates for Capesize vessels over a prolonged period. The question is, how long it will take until the smaller producers will have to cease operations due to the lower industry price floor.
During last week, the iron majors in both Brazil and Australia were considered as relatively quiet and, as a result, freight rates declined week on week on the Tubarao to Qingdao route to $9.35 per tonne and on the Western Australia to China route to $24 per tonne.
Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years.
The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months.
Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now.
This means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy.
By Christopher T. Whitty
Marketing Manager - Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
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