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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, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
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Showing 1891 to 1895 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Eastern Coal Council - USA
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
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