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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, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
Monday, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
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- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Minerals Council of Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
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