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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
 China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world combined.
Beijing's war on smog has concentrated on the country's steelmaking hubs near the capital where mandated cuts of as much as 50% came into actual effect last month. The Chinese government announced that it would shut about a third, or around 1,000, of the country's iron ore mines which struggle with average grades of only around 20% iron ore content.
Chinese imports of high-quality iron ore fines and lump ore from Australia, Brazil and South Africa topped 100m tonnes for the first time in September, but plunged by 23% last month to 79.5m tonnes as steelmakers work through inventory amid lower production. Total shipments for the first ten months of the year is up 6.3% to 896m tonnes.
Iron ore spot markets rose strongly again yesterday, the price for benchmark iron ore 62% fines, jumped by 1.4% to $63.47 a tonne, adding to the 1.7% gain achieved on Friday last week. As a result of the back-to-back gains, it now sits at the highest level since September 27.
We see strong positive signs that restrictions on steel production in China are now fully in force and are crimping iron ore demand from local mills. Chinese authorities have enforced steel production cuts between mid-November and mid-March 2018 in an attempt to improve air quality in northern Chinese provinces during winter.
In general, there are concerns that against weakening demand from steel mills, the increase in China’s iron ore production might lead to less import appetite, weighing down on seaborne prices to a certain extent.
In any case we have a positive outlook. Capesize rates, which since August have recovered to their strongest levels in three years, are likely to retain their underlying strength until at least the first quarter next year.
Average earnings for Capesize ships, which typically haul around 180,000 tonnes of iron ore, are around $26,350 per day, compared with $8,208 per day last year. Overall iron ore cargo volumes also grew by 4 percent last year compared with 2 percent growth in the capesize fleet in 2016.
Charter rates on key routes such as the Western Australia-China route fell to $7.64 per tonne on Wednesday last week against $8.31 per tonne the week before. Rates hit $8.98 per tonne on Oct. 17, the highest since November 2014.
Freight rates on the route from Brazil to China slipped a bit to $18.25 per tonne on Wednesday, from $18.41 a week earlier. They marked $19.60 per tonne on Sept. 25, still the highest since November 2014. Looking at the big picture there is a strong momentum building up.
By Christopher T. Whitty
Commercial Manager - Cotzias Intermodal Shipping
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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Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
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