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Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
 Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high-cost mines, Fitch Ratings says.
We expect market leaders BHP Billiton, Rio Tinto and Vale to continue increasing production in 2015 despite falling prices, as they are also the lowest-cost producers. This is likely to outweigh the impact of any shut-downs among higher-cost producers in the near-term. We also expect annual growth in Chinese crude steel production to slow to around 1% or less in 2015.
These factors are reflected in our recent decision to cut the price assumptions we use for rating purposes. Our iron ore spot price assumptions on a cost and freight basis are now USD50 per tonne in 2015 and 2016, compared to USD65 and USD75 previously. We have also lowered our long-term price assumption to USD70 from USD80.
In the short-term, prices are also likely to remain volatile as markets reassess their expectations for Chinese steel output, the rate at which higher-cost producers are forced to exit the market and a potential slowing of capacity growth among the major iron ore producers.
The rate of shut-downs among higher-cost producers has been slowed by cyclical cost reductions as cost pressures in regions such as Western Australia have fallen. The drop in oil prices has also helped ease pressure on some miners and means that overall companies will stay in the market for longer. Government efforts to support the industry, including a halving of the resource tax on domestic iron ore producers, should also slow the rate of iron ore mine closures in China in 2015.
Other high-cost producers, particularly state-owned companies, are also likely to continue operating despite having costs well over USD50 a tonne. In the fourth-quartile of the cost curve, we expect companies with nearly 100 million tonnes of annual production to continue operating. This will transfer some pressure to miners in the third-quartile, which includes smaller higher cost Australian producers and also companies such as African Minerals and London Mining in West Africa.
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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
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 ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
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