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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, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
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