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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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
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