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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, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
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