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