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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
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