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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Thursday, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
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Showing 2726 to 2730 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
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