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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 $24 per tonne. Nevertheless the freight market for capesize bulk carriers is still at sustainable levels and the top iron ore producers are intending to bring even more new supply to the market over the next three years. The increase in global supply is also affecting the Chinese domestic output and if the majors want to force a high percentage of these producers to shut down, they will have to ensure that prices will remain low for an extended period or at least for the next couple of months. Even though Chinese iron ore imports decreased more than 6 percent compared to September, the overall sentiment is that they still remain on track for their biggest growth in the last five years, which is somewhat encouraging for now”, Whitty noted.
He concluded his analysis by noting that “this means that at least in the short term the surplus of iron ore in the market will most likely be absorbed mainly by China, while expectations for 2015 are that the global surplus will be approximately 110 million tons. Comparing that to the 2014 surplus of around 60 million tons, yields a clear picture of the oversupply that is flooding the industry and places even more weight on the significance of the Chinese economy”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
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