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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Thursday, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
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