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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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Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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