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