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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Sree Jayajothi Cements Limited - India
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- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
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- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Madhucon Powers Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- The University of Queensland
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
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