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