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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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Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
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