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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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- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
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