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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, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
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