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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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
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- London Commodity Brokers - England
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- Wilmar Investment Holdings
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- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
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- Orica Australia Pty. Ltd.
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- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
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