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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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Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Romanian Commodities Exchange
- PTC India Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
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