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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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Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
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