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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, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Star Paper Mills Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GMR Energy Limited - India
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