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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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- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
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