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Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
 Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest price level since mid-2014. The commodity, which hit $94.86 in February, averaged $86 in the first three months. It is still a volatile market this year but the potential restart of idled Chinese iron ore capacity will cause the most uncertainty for prices in 2017 and is likely to add to general volatility for the rest of year.
It looks like we already witnessed a certain correction in prices since the commodity has been steadily falling since mid-April, to a near six-month low, primarily on the back of concerns based on fresh signs of a supply glut and ramped-up domestic production in China. Spot Ore with 62 percent content in Qingdao fell 2.5 percent to $66.53 a dry ttonne on Monday following a volatile last week.
The commodity, which last year climbed approximately 85%, is now not only in a bear market but has also lost around 29% in 2017. Some believe the current drop in prices has its roots in the growing inventories at Chinese ports, though recent reports say these have started to wane. Others still blame market fundamentals and the ongoing glut that has worsened due to that fresh supply coming into the markets.
Of course, among the reasons cited by bears is also the potential for additional supply, both from mines in China and overseas. Mainland Chinese miners boosted production 16 percent in the first three months of 2017, official data showed.
Brazil's Vale, the world’s largest shipper, posted a record first-quarter output as it started exports from its $14 billion S11D complex located south-east of Sao Luis Port in Canaã dos Carajás, in south-east Pará State. The S11D complex is Vale’s largest mining project in its history and is also considered the largest mining project worldwide. Vale hauls approx. 90 mil tonnes of iron ore from S11D, via the PDM Terminal at Sao Luis. This output would annually require around 500 Capesize vessels loading the product, specifically from the PDM terminal.
In Australia, supply is also booming according to estimates from Rio Tinto, the second-biggest producer. Around 296m tonnes of additional seaborne supply have entered the market in the last three years. The Australian giant forecasts supply growth to slow down but combined 100m tonnes from the world's top six producers are expected to be added to supply this year and next.
In the long run, it is very promising for the Capesize segment that overall steel production in China increased in 2016 and in general it is predicted to do so again this year to support infrastructure projects as Beijing tries to stimulate the economy. That can only be a good sign for Capes hauling iron ore for steel production, from Brazil and Australia to China and it is worth keeping in mind as the market for the big bulkers seems to be correcting downwards lately.
By Christopher Whitty
Commercial Manager – Towage Division
Cotzias Intermodal Shipping Inc
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Planning Commission, India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- The University of Queensland
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
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