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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, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
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