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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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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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