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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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Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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