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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, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
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