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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, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
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