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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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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- The University of Queensland
- Carbofer General Trading SA - India
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- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
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- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
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- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Australian Coal Association
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- PTC India Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
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- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
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- White Energy Company Limited
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