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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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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
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