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