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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warned of a 20% fall in Chinese steel consumption over the next 15 years, as Beijing accelerates the shutdown of outdated and loss-making factories.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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Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
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