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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Australian Coal Association
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
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