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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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Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
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- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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