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Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole. According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, the arguments expressed claim that “with the steel industry being considerably shaken up after the softer results witnessed out of China throughout the year, the market has found itself once again plagued by overcapacity in terms of vessels and excess supply of steel products, possibly marking a further slowdown in steel production growth. Having now en-ered the final month of 2014 and with rates in the final quarter of the year having grossly disappointed the expectations that had accrued from the more promising final quarter of 2013, the market has now been left in shatters in terms of market sentiment, while the headache of the excessive order book continues to loom in the horizon”.
By contrast, those who voice more optimistic views, say that things could very well be better. According to them, “iron ore trade and in particular seaborne trade, has been mainly driven by Chinese demand for almost a dec-ade now and while demand for steel production may well be faltering, it doesn’t not look like we will see an outright reduction in demand for this vital commodity. At the same time, with prices of the ore having dropped to consecutively record 5 year lows over the past months, it has been Chinese internal iron ore production that has been most at threat. Both Australia and Brazil have considerably lower breakeven levels and can sustain their production at price levels considerably lower than their Chinese counterparts. This means that as the price drops further it will likely be seaborne imports that will have most to gain boosting their demand and as such their volumes”, Lazaridis noted.
He added that according to the optimists of the dry bulk market, “the considerable iron ore inventories that have amassed in most major Chinese ports are likely to be consumed fairly quickly by the ramped up Chinese steel produc-tion and at the same time the average levels of port inventories will have to be raised in order to better secure against any disruptions in production as they will be more reliant on imports moving forward”.
As a results, Allied’s analyst wonders which will be the case out of the above different scenarios. According to him, “there may well be an increasing rise for iron ore imports, however Australia has championed as main supplier to China for many years and as things are looking now, they have been gaining further ground during 2014, moving from a 51% market share in 2013 up to roughly a 58% market share now. This means that as their mines ramp up production and gain ground in the market they will likely eat up some of the further away competition as well, countering some of the positive effects of the higher reliance of China on imports, as Aussie ore also takes up volume from longer haul sources as well”.
According to the shipbroker’s view on the 2015 dry bulk market, “as things stand now it looks as a reasonable scenario for Chinese iron ore imports to rise by around 10-15% on a year-on-year ba-sis, while to put this number in perspective the respective number for 2014 looks close to around 16%. Having said that, this rise in imports is possibly going to translate into a more marginal 5% demand growth and even this figure seems to be optimistic. At the same time the schedule of newbuilding deliveries is quite well packed with over 139 vessels currently set to hit the water within 2015, while the lower bunker prices might add another headache as fuel consumption becomes less of an issue and many charter-ers start to push for higher speeds and in turn further increase the total annual carrying capacity of the Capesize fleet”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- The University of Queensland
- GMR Energy Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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