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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, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
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