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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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- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
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