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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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Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
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