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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
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- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
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