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Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
 Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dry bulk freight rates. As we edge closer to the end of 2015 however, it seems that Chinese iron ore imports will follow suit and start declining, as the struggling steel industry, both in China and globally will limit iron ore seaborne trade. As such, it will take a significant net decline of the global dry bulk fleet, in order to offset this declining demand.
According to the latest weekly report from shipbroker Allied Shipbroking, “the steel market has made its way into the spot light this week, as several European states have increased the pressure on action to be taken against the excess dumping of “cheep” Chinese steel into their markets. The supply glut has been around for some time now and while global steel production has been on the decline for the most part of 2015, it seems as though the market is still out of balance and heavily over supplied”.
George Lazaridis, Head of Market Research & Asset Valuations with Allied noted that “Chinese steel production for the year up until September has been down by 2% compared to the same period last year and with China representing just over 50% of the global steel production, this is a considerable drop in the total volume. However it seems that in an effort to slow down its production more gradually over the course of the year, China has been pushing a large portion of its excess supply onto other markets, causing a drastic drop in the price of steel while hoping to retain if not increase its market share. This has hit several of the higher costs producers, especially in Europe and the U.S. The U.S. and other countries have already taken steps in order to prevent market distortions brought about by this “artificially” low priced steel from China, while pressure has been now mounting from the U.K and other E.U. member states for similar action to be taken within Europe as well”.
He added that “with the Chinese steel industry already noting a strong decline this year and with trade restrictions now looking likely to push it into further decline, it looks as though we will likely see a drop in trade not only for finished steel products out of China but also in imports of both Iron ore and coking coal, with both these imports being the main trades for the Capesize sector. A key point to note here is that despite the slowdown in steel production this year, China has still managed to keep iron ore imports on the rise, using the opportunity of the currently low commodity prices to not only lower the average price of the stockpiles it held, but also increase the total volume of those stockpiles in order to hedge any future upward shift in price. This has translated into an estimated 2% increase in the volume of iron ore imported into China since the beginning of the year. The issue is that this rise has proved to be grossly inadequate in keeping the freight market for Capes buoyant. The big losses in the volume of seaborne coal trade has proved costly and with less vessels now actively involved in carrying coal to China there has been an increase in available tonnage competing for the same amount of iron ore cargoes. What makes this even more dramatic is that it has been done despite the fact that the total capesize fleet has remained overall on par in terms of vessel numbers with what it was in the final quarter of 2014”. Lazaridis noted.
As such, “taking this into account and with expectations now for a further slowdown in steel production (the level of which will obviously be dependent on the severity of any new trade restrictions brought about in the market) this will surely detriment things further, something that will likely be reflected in the first quarter of 2016 which is seasonally a low point in the market. Couple this with the fact that demand for industrial commodities such as steel is not showing any potential for strong growth, as demand from major economies such as China, Europe and the U.S. has been in decline, it looks as though the Capesize market still has a considerably large re-balancing act to make moving forward and although the orderbook currently stands at 240 vessels (equivalent to 16% of the current fleet) the number of vessels which are 20 years old or over are only 116 “, Allied’s analyst concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Chamber of Mines of South Africa
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
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