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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, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
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