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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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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
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- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Planning Commission, India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- The University of Queensland
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