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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Australian Coal Association
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
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