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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- The University of Queensland
- Ministry of Mines - Canada
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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