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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
 Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low grade iron ore while major Chinese companies are buying up ore mines with two billion worth of reserves in Africa. "The ban will surely have an effect because about 50% of our exports are low grade iron ore," Royston Machado, an industry consultant working jointly with China Inspection and Quarantine, said. India sold 107 million tonnes accounting for 18% of Chinese imports in 2009.
The ban came into effect after the China Iron and Steel Association (CISA) advised ore buyers at a conference to stop buying low grade ores. "CISA has not yet issued a formal notification but the ban is already having an effect," Machado said.
The ban has not caused uproar because businesses in India are still not feeling the pinch. China has more than two months of stocks and the offtake from steel mills is low. Another reason is that the Goa port, which ships nearly half of Indian ores to China, is closed for monsoon.
"A clear picture would emerge after the Goa port reopens in October and there is a strong demand. Indian exports would be seriously reduced unless the government reconsiders the ban," sources said. The move was followed by a decision by the National Development and Reform Commission giving a green signal for the purchase of two African mines with reserves totaling 2 billion tonnes.
Three Chinese companies including the Wuhan Iron & Steel, are jointly buying a mine with reserves worth 800 million tonnes at Soalala in Madagascar. Wuhan has also purchased controlling stakes in the Bong Iron Ore company based in Liberia. Bong has proven reserves of over 1.3 billion tonnes.
Source: Times of India / Hellenic Shipping
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- San Jose City I Power Corp, Philippines
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- Petron Corporation, Philippines
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- Kumho Petrochemical, South Korea
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- Renaissance Capital - South Africa
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- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
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- Independent Power Producers Association of India
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- Bayan Resources Tbk. - Indonesia
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- Chamber of Mines of South Africa
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- CNBM International Corporation - China
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- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
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- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
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- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
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- Oldendorff Carriers - Singapore
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- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Standard Chartered Bank - UAE
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- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
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- Energy Link Ltd, New Zealand
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- The Treasury - Australian Government
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- Australian Coal Association
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
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- Billiton Holdings Pty Ltd - Australia
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- London Commodity Brokers - England
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- Economic Council, Georgia
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- Indonesian Coal Mining Association
- VISA Power Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Mintek Dendrill Indonesia
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- IHS Mccloskey Coal Group - USA
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- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
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