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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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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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- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
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