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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
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