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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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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
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