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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
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- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- The University of Queensland
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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