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