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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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