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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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Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
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Showing 2711 to 2715 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
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