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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 $19.60 per tonne on Sept. 25, still the highest since November 2014. Looking at the big picture there is a strong momentum building up.
By Christopher T. Whitty
Commercial Manager - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- VISA Power Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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