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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- PowerSource Philippines DevCo
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
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