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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
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