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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, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Singapore Mercantile Exchange
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Central Electricity Authority - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
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