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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- London Commodity Brokers - England
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
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- Australian Coal Association
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- Kumho Petrochemical, South Korea
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- The University of Queensland
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- ICICI Bank Limited - India
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- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
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- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
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- Bhushan Steel Limited - India
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- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
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- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- White Energy Company Limited
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- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
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- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Parry Sugars Refinery, India
- VISA Power Limited - India
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- Kaltim Prima Coal - Indonesia
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- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
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- Ambuja Cements Ltd - India
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- CIMB Investment Bank - Malaysia
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- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
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- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
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- Semirara Mining and Power Corporation, Philippines
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