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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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Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
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- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
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