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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, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
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- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
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