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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 fallen more than 20 per cent on weakening Chinese demand. Goldman Sachs analyst Malcolm Southwood said Chinese buyers have been largely absent from the spot market for almost a month and show no immediate inclination to return while sentiment remains weak.
He said the economic powerhouse continues to shun offers as it expects prices to keep falling.
"With spot iron ore trading at a discount of more than 20 per cent to the implied third quarter contract price, the new quarterly pricing mechanism is clearly under duress," he said.
"Our own view is that quarterly pricing based on a trailing average index may prove to be too cumbersome, and monthly price resets could ultimately be a more palatable mechanism for both buyers and sellers."
The top three global iron ore producers, Brazil's Vale, Rio Tinto and BHP Billiton, all pushed their customers off the annual benchmark on to quarterly indexed-based contracts.
Mr Southwood said while the investment bank continued to forecast a supply-constrained seaborne market in 2011, market participants remain focused on the near term, which he said was increasingly difficult to construct a "positive fundamentally driven price view".
"With seasonal factors also depressing demand, we see little prospect of a sustained improvement in market conditions during July-August," he said.
Macquarie's London-based analysts said Chinese mills had been running down their on-site inventory as sentiment turned sour.
"In our opinion, there is no obvious catalyst to arrest the current fall in the spot price, and we expect it to drift lower over the next month," Macquarie's team said in a report.
A drop in the spot price came as magnetite producer Grange Resources secured a 107 per cent jump in the annual iron ore pellet benchmark price in a sales deal with BlueScope Steel.
Grange announced yesterday BlueScope would pay $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- The University of Queensland
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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