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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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Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
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