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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Thai Mozambique Logistica
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- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
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- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
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- Ministry of Finance - Indonesia
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- Energy Link Ltd, New Zealand
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- Coal and Oil Company - UAE
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- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
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- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- McConnell Dowell - Australia
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- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
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- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
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- Indian Oil Corporation Limited
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- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
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- Goldman Sachs - Singapore
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- Kumho Petrochemical, South Korea
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- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
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- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
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- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
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- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
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- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
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- Kohat Cement Company Ltd. - Pakistan
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- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
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- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
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- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
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- Manunggal Multi Energi - Indonesia
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- Orica Australia Pty. Ltd.
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- Commonwealth Bank - Australia
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- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
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- Price Waterhouse Coopers - Russia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
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- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
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- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- The University of Queensland
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- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Interocean Group of Companies - India
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- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
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- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Parliament of New Zealand
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- White Energy Company Limited
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
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- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
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- Simpson Spence & Young - Indonesia
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- Meralco Power Generation, Philippines
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