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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
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