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Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
 The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013, but is unlikely to be sustainable due to the weak demand for steel, Fitch Ratings says. This should help margins recover later in the year.
While we expect margin pressures to abate, iron ore prices have become more volatile as supply contracts have moved from annual to quarterly or spot pricing, with volatility rising 16% in 2012. This means that both higher-cost producers and consumers of iron ore face higher uncertainty on cash flows.
Iron ore prices have risen around 30% since the start of December, while the price of semi-finished steel products has remained practically unchanged, putting pressure on profits at steelmakers that don't have their own ore supplies. The recovery of iron ore prices follows a fall to their lowest level in more than three years in September. This primarily resulted from destocking by Chinese steel mills. It is likely that the fall in prices resulted in some Chinese mines temporarily halting production, providing further impetus for a price rebound.
But the balance of power in price negotiations is likely to swing back towards steel producers for the rest of the year due to the slowing growth in demand for steel products. Steel producers are unable to transfer increased iron ore costs to customers through an increase of steel products' prices and also have limited ability to absorb increased costs by themselves due to already low operating margins. In Europe weak demand from the construction and automotive markets will lead to a drop in steel production, while in China we believe the rate of steel demand growth has peaked - although production volumes will continue to increase, the rate of growth is likely to be below 5% a year.
These trends mean we expect the ratio of iron ore to steel slab prices to remain close to the 2012 level of 0.25x, rather than the high of 0.29x reached in 2010.
Source: Fitch Ratings
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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
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