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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 $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
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