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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
 The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of below $47/t in April 2015. While lower prices helped to boost iron ore trade in 2014, the extent of the current price depression has raised questions over the ability of some miners to continue production at a loss, which is likely to have an impact on trade.
Surge In Exports
Australian seaborne ore exports increased 24% y-o-y in 2014, reaching 719mt, as the major miners Rio Tinto, BHP and Fortescue ramped up production.
The flood of Australian iron ore caused spot prices to fall 49% in 2014; to reach $69/t by December – a far cry from the previous five year average of over $135/t. Prices went on to hit a ten year low of $46.8/t in early April, but have rebounded slightly since. Nevertheless, many analysts have significantly reduced average price forecasts for 2015, with some projecting a level as low as $45/t.
Financial Pressure
Most small ore mining companies have a breakeven price of over $65/t. As prices have dropped below this level, high-cost miners around the world have reduced production, resulting in falling exports from the USA, Iran, Indonesia and Malaysia in 2014. Smaller miners in Australia are also increasingly feeling the pinch. Atlas Iron (which produced 12mt in 2014) was reportedly making a loss of more than $10/t and has now suspended production. BC Iron, which has a reported breakeven point of over $60/t, has seen shares plummet in recent months despite a reprieve from the Western Australian government for due payments of royalties. Fortescue, the fourth largest miner in the world, reportedly plans to expand production in 2015, but has introduced measures to further cut costs. Even the mining companies with low breakeven points – BHP Billiton and Rio Tinto – have seen their profit margins reduced. However, both companies still plan to expand production in the short-term.
Trade Impact?
As Rio Tinto and BHP increase supply this year, iron ore prices are likely to remain under pressure. Higher cost miners in China and elsewhere may reduce output as a result. Some analysts have projected over half of China’s 1,500 iron ore mines to close this year, despite a recent tax cut. Cheaper, higher quality iron ore imports are likely to continue to displace some Chinese output, although some Chinese miners may weather the weak price climate due to close ties with steel mills. This should support further growth in Chinese imports and global trade this year. However, the loss of output from other high cost miners globally could offset some of this growth. The pressure also seems unlikely to disappear soon, given weaker Chinese steel demand and expected expansion of Brazilian ore exports as projects come online in 2016-17.
While the list of mining companies who can afford to stay in the race may shrink, the scale of scheduled output growth from the larger miners is still likely to drive trade growth this year. However, against the backdrop of a lower price environment, and the potential for reduced Chinese demand, longer-term prospects for iron ore trade are starting to appear more challenging than previously.
Source: Clarksons Nikos Roussanoglou, Hellenic Shipping News
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Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Economic Council, Georgia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
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