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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
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Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- The University of Queensland
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
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