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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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Showing 3061 to 3065 news of total 6871 |
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- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
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