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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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- Malabar Cements Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
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- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
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- The Treasury - Australian Government
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- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
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- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
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- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
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- GMR Energy Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- San Jose City I Power Corp, Philippines
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- Jaiprakash Power Ventures ltd
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- Indian Energy Exchange, India
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- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Ministry of Finance - Indonesia
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- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
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- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
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- Power Finance Corporation Ltd., India
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- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
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- Petrochimia International Co. Ltd.- Taiwan
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- MS Steel International - UAE
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- Wood Mackenzie - Singapore
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- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
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- Energy Development Corp, Philippines
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- Ministry of Transport, Egypt
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- The State Trading Corporation of India Ltd
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- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
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- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
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- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
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- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
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