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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, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
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- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
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