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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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Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
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- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Australian Coal Association
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
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