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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
 Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling with lower prices, and as most of the remaining mines have better attributes.
Fitch expects the government to continue introducing direct or indirect subsidies to support iron ore miners after a sharp downturn in iron ore prices in 2014 forced a slew of mines to close and increased China's reliance on imports, which reached an all-time high in 2014. The Chinese government recently said it would halve the resource tax on domestic iron ore producers to 40% from 80% from 1 May 2015, which would result in cost savings of about CNY6-15 a tonne for the miners.
Iron ore capacities in China that are still surviving either operate at lower costs, have higher grade products, are vertically integrated with steel mills, or are state-owned, which would make them less susceptible to closure.
According to the China Steel Association, the country's iron ore imports rose 13.8% in 2014 to 933 million tonnes, accounting for 78.5% of national consumption, and a 9.7pp increase from the previous year. Imports will continue to rise in 2015 as more Chinese miners shut, which will further strengthen the bargaining power of large international iron ore producers, something the Chinese government and the domestic steel industry would not want to see.
Chinese producers generally have higher production costs than their large global peers, and have struggled to compete as cheaper supply continued to flood the market. The industry association in China estimates that over 50% of Chinese iron ore mines produce at a cash cost of more than CNY500/tonne (USD81/tonne), compared with large global miners' USD20 35/tonne. Support from the Chinese government would provide a lifeline to keep domestic supply in the market for longer than would be otherwise possible.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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