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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
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