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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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Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
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