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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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Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
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