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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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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Australian Coal Association
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
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