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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
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