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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
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