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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
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Showing 2711 to 2715 news of total 6871 |
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- Xindia Steels Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
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