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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
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- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
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