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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, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
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