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Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, falling steel demand both domestic and foreign and iron ore prices tumbling to near 7-year lows as of yesterday and well below $50/ton. As such, the persistence of mining giants to keep production levels up, is puzzling.
In its latest report, shipbroker Cotzias Intermodal Shipping attempted to decode this puzzle, which is very important to the future prospects of the dry bulk shipping industry. According to the report, “four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies control more than 70 percent of the seaborne iron ore market”. However, despite low iron ore prices, the two major producers in Brazil and Australia have been following through with their longstanding plans to increase production.
According to Cotzias Intermodal Shipping’s Christopher Thomas Whitty, Marketing Manager, Towage & Port Agency, “the low iron ore price also comes as China’s official forecaster warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories. Rio Tinto in Australia and Vale in Brazil, are still ramping up production. For the first nine-months of 2015, Vale’s production overall is around 8 million metric tons higher than Rio Tinto’s at 248 million metric tons, while Vale’s shipments are just over 3 million metric tons higher. Of course Australian miners still have an advantage in delivered costs to China, the main importer for iron ore. For example, Capesizes hauling the commodity from Brazil to China last week saw rates around $12/ton for the Tubarao/Qingdao route, while from Rio Tinto’s Dampier terminal in Western Australian, freight rates were slightly in excess of $5.10/ton”.
Mr. Whitty added that “it is quite interesting to see that current iron ore prices aren’t worrying Rio Tinto. Their CEO, Andrew Harding, said he’s not losing sleep, because the business line, like the miner itself, is in for the long haul. He reasons that populations will continue to grow and develop, especially in Asia and iron ore will be needed to serve their needs. In September, Rio Tinto said its modelling showed that the world would need three billion tons of iron ore by 2030”.
Meanwhile, as per Intermodal’s analyst, “on the other side of the world, Vale is also quite confident in their iron ore division after releasing their third quarter results for 2015. Their highlight is the significant cost cutting during this period, which made Vale, the company with the lowest production cost/ton in the entire sector, reach an unprecedented cost level of $ 12.7/ton of iron ore. They are trailing faster growth compared to Australian majors, who this year posted stronger increases to volumes from new capacity ramp-ups”.
He added that “this is an oversupplied market that is obviously affected by the shrinking Chinese steel demand. On the other hand, oversupplied ore trade also creates opportunities for the large players, since it means that certain high-cost producers will struggle to survive. Some iron ore mines, such as those in Canada, China and Africa, have already buckled under the pressure. Nevertheless, producers with operating costs that are far below current iron ore prices are very well-positioned to take market share in the long term. Now if several high-cost producers exit the industry, it would be quite difficult for them to re-commence operations.
Over the long term, the low-cost iron mines could potentially fill the gap that remains after smaller companies exit the market. The gain in market share will likely increase margins, operating cash flow and profits. Hopefully this could also change the dynamics in the market and positively affect the demand for seaborne trade”, Whitty concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
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- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- The Treasury - Australian Government
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