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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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Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Thursday, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
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- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- The University of Queensland
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
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