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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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Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
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- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Parry Sugars Refinery, India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
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