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Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
 Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high-cost mines, Fitch Ratings says.
We expect market leaders BHP Billiton, Rio Tinto and Vale to continue increasing production in 2015 despite falling prices, as they are also the lowest-cost producers. This is likely to outweigh the impact of any shut-downs among higher-cost producers in the near-term. We also expect annual growth in Chinese crude steel production to slow to around 1% or less in 2015.
These factors are reflected in our recent decision to cut the price assumptions we use for rating purposes. Our iron ore spot price assumptions on a cost and freight basis are now USD50 per tonne in 2015 and 2016, compared to USD65 and USD75 previously. We have also lowered our long-term price assumption to USD70 from USD80.
In the short-term, prices are also likely to remain volatile as markets reassess their expectations for Chinese steel output, the rate at which higher-cost producers are forced to exit the market and a potential slowing of capacity growth among the major iron ore producers.
The rate of shut-downs among higher-cost producers has been slowed by cyclical cost reductions as cost pressures in regions such as Western Australia have fallen. The drop in oil prices has also helped ease pressure on some miners and means that overall companies will stay in the market for longer. Government efforts to support the industry, including a halving of the resource tax on domestic iron ore producers, should also slow the rate of iron ore mine closures in China in 2015.
Other high-cost producers, particularly state-owned companies, are also likely to continue operating despite having costs well over USD50 a tonne. In the fourth-quartile of the cost curve, we expect companies with nearly 100 million tonnes of annual production to continue operating. This will transfer some pressure to miners in the third-quartile, which includes smaller higher cost Australian producers and also companies such as African Minerals and London Mining in West Africa.
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Friday, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
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- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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