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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
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- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bhatia International Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
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