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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
 The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of below $47/t in April 2015. While lower prices helped to boost iron ore trade in 2014, the extent of the current price depression has raised questions over the ability of some miners to continue production at a loss, which is likely to have an impact on trade.
Surge In Exports
Australian seaborne ore exports increased 24% y-o-y in 2014, reaching 719mt, as the major miners Rio Tinto, BHP and Fortescue ramped up production.
The flood of Australian iron ore caused spot prices to fall 49% in 2014; to reach $69/t by December – a far cry from the previous five year average of over $135/t. Prices went on to hit a ten year low of $46.8/t in early April, but have rebounded slightly since. Nevertheless, many analysts have significantly reduced average price forecasts for 2015, with some projecting a level as low as $45/t.
Financial Pressure
Most small ore mining companies have a breakeven price of over $65/t. As prices have dropped below this level, high-cost miners around the world have reduced production, resulting in falling exports from the USA, Iran, Indonesia and Malaysia in 2014. Smaller miners in Australia are also increasingly feeling the pinch. Atlas Iron (which produced 12mt in 2014) was reportedly making a loss of more than $10/t and has now suspended production. BC Iron, which has a reported breakeven point of over $60/t, has seen shares plummet in recent months despite a reprieve from the Western Australian government for due payments of royalties. Fortescue, the fourth largest miner in the world, reportedly plans to expand production in 2015, but has introduced measures to further cut costs. Even the mining companies with low breakeven points – BHP Billiton and Rio Tinto – have seen their profit margins reduced. However, both companies still plan to expand production in the short-term.
Trade Impact?
As Rio Tinto and BHP increase supply this year, iron ore prices are likely to remain under pressure. Higher cost miners in China and elsewhere may reduce output as a result. Some analysts have projected over half of China’s 1,500 iron ore mines to close this year, despite a recent tax cut. Cheaper, higher quality iron ore imports are likely to continue to displace some Chinese output, although some Chinese miners may weather the weak price climate due to close ties with steel mills. This should support further growth in Chinese imports and global trade this year. However, the loss of output from other high cost miners globally could offset some of this growth. The pressure also seems unlikely to disappear soon, given weaker Chinese steel demand and expected expansion of Brazilian ore exports as projects come online in 2016-17.
While the list of mining companies who can afford to stay in the race may shrink, the scale of scheduled output growth from the larger miners is still likely to drive trade growth this year. However, against the backdrop of a lower price environment, and the potential for reduced Chinese demand, longer-term prospects for iron ore trade are starting to appear more challenging than previously.
Source: Clarksons Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
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- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- The University of Queensland
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
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