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Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, falling steel demand both domestic and foreign and iron ore prices tumbling to near 7-year lows as of yesterday and well below $50/ton. As such, the persistence of mining giants to keep production levels up, is puzzling.
In its latest report, shipbroker Cotzias Intermodal Shipping attempted to decode this puzzle, which is very important to the future prospects of the dry bulk shipping industry. According to the report, “four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies control more than 70 percent of the seaborne iron ore market”. However, despite low iron ore prices, the two major producers in Brazil and Australia have been following through with their longstanding plans to increase production.
According to Cotzias Intermodal Shipping’s Christopher Thomas Whitty, Marketing Manager, Towage & Port Agency, “the low iron ore price also comes as China’s official forecaster warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories. Rio Tinto in Australia and Vale in Brazil, are still ramping up production. For the first nine-months of 2015, Vale’s production overall is around 8 million metric tons higher than Rio Tinto’s at 248 million metric tons, while Vale’s shipments are just over 3 million metric tons higher. Of course Australian miners still have an advantage in delivered costs to China, the main importer for iron ore. For example, Capesizes hauling the commodity from Brazil to China last week saw rates around $12/ton for the Tubarao/Qingdao route, while from Rio Tinto’s Dampier terminal in Western Australian, freight rates were slightly in excess of $5.10/ton”.
Mr. Whitty added that “it is quite interesting to see that current iron ore prices aren’t worrying Rio Tinto. Their CEO, Andrew Harding, said he’s not losing sleep, because the business line, like the miner itself, is in for the long haul. He reasons that populations will continue to grow and develop, especially in Asia and iron ore will be needed to serve their needs. In September, Rio Tinto said its modelling showed that the world would need three billion tons of iron ore by 2030”.
Meanwhile, as per Intermodal’s analyst, “on the other side of the world, Vale is also quite confident in their iron ore division after releasing their third quarter results for 2015. Their highlight is the significant cost cutting during this period, which made Vale, the company with the lowest production cost/ton in the entire sector, reach an unprecedented cost level of $ 12.7/ton of iron ore. They are trailing faster growth compared to Australian majors, who this year posted stronger increases to volumes from new capacity ramp-ups”.
He added that “this is an oversupplied market that is obviously affected by the shrinking Chinese steel demand. On the other hand, oversupplied ore trade also creates opportunities for the large players, since it means that certain high-cost producers will struggle to survive. Some iron ore mines, such as those in Canada, China and Africa, have already buckled under the pressure. Nevertheless, producers with operating costs that are far below current iron ore prices are very well-positioned to take market share in the long term. Now if several high-cost producers exit the industry, it would be quite difficult for them to re-commence operations.
Over the long term, the low-cost iron mines could potentially fill the gap that remains after smaller companies exit the market. The gain in market share will likely increase margins, operating cash flow and profits. Hopefully this could also change the dynamics in the market and positively affect the demand for seaborne trade”, Whitty concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
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