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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
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