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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, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
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