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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied Shipbroking in its latest weekly report. According to the report, “with chatter circulating the market that some of the major dry bulk commodities are set for a turnaround in fortunes after their most recent price rally, many traders have started to seem more bullish and hopeful that we may have finally bottomed. Yet is there really fire everywhere you see smoke. Things seem to be a touch more complicated and with the commodities markets being the demand driver for both wet and dry tonnage, it is interesting to see how deep these latest promises hold”.
As Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking noted, “the truth is that we have seen some of the biggest gains since 2012 in iron ore prices. The climb was more than 14 per cent over the past 2 weeks, marking a new month high of USD 53.8 per tonne according to the TSI price index. At the same time, as we have been reporting during the same time period, Rio Tinto and Fortescue have been heavily hitting the charter market with fresh inquiries, something that has notably pushed freight rates for Capes on the Australia/Far East routes considerably”.
He added that “things have pulled back slightly in terms of new voyage requirements, yet with the commodity price still looking to hold upward momentum it is not without reason that some keep a hopeful position of the prospects that the May program may hold. As for the reasoning for most of this, it seems that a combination of restocking by Chinese steel mills, coupled with expectations that its government will provide further support to spur economic growth, has encouraged most of these larger mining companies to take on their competition head on flooding the market with their cheaper prices produce in order to gain market share and lower their marginal costs”.
Meanwhile, “while all this has being going on during the past two weeks, another major mining company, namely BHP Billiton has announced its intention to defer a project that would increase capacity of its Australian mines to 290m tonnes a year by mid-2017. Along with this, caution must also still be kept as to how the market can fair in the likely sce-nario that China holds on to its slower economic growth trajectory, despite any efforts made through further fiscal easing, leaving a minimal demand growth for the market. The reality seems to be that Chinese demand will continue to wane in the near term, something that will carry on placing pressure on all major commodities. As such any renewed market demand must come from elsewhere, countries such as India, which for the moment do not seem to be up to the task of propping up global demand by the same amount”.
Lazaridis also mentioned that “through all this there are subtle silver linings to be found. For one, the deferral by BHP Billiton of extra investment spending could be part of an effort to squeeze its current marginal costs, as it has been ramping up production of its western Australian mines during the past couple of months. Let’s not forget that Rio Tinto had made a similar decision last year, which as is now seen, did little to deter it from ramping up its produc-tion volumes this year. At the same time and as the three major Australian miners as well as Brazil’s Vale, seem adamant in taking up further market share, this could likely translate into a good increase in tonne-mile demand, taking into account that most of the capacity they replace is likely to be closer to home or even internally within China. As such the main issue remains as to how much the capacity growth of the fleet can be restricted. If we can avoid a complete market collapse this year, investor appetite could eventually kick in, financing an actual rebound in the commodity markets”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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