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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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Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
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