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Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
 “One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry bulk market. The oversupply of iron ore has led to prices crashing and smaller producers’ position becoming more precarious by the day. On the other hand, for the maritime industry, this exact issue of oversupply is fuelling a rebound in dry bulk freight rates.
So, the issue moving forward will be, how long will the ongoing battle between the low-cost iron ore producers and the big three, i.e. Vale, Rio Tinto and BHP Billiton will last? According to the marketing manager of Towage & Port Agency with Cotzias Intermodal Shipping, Mr. Christopher T. Whitty, “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”, Whitty noted.
In the latest weekly report, Mr. Whitty stated that “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”.
It’s worth noting that “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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
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