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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 $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
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