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Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
 COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Brazil's Vale S.A. (BBB/Negative) could strengthen its business profile.
Fortescue on 8 March 2016 said it has entered into a non-binding MOU with Vale. The agreement proposes the formation of one or more joint ventures (JVs) for the blending of selected volumes of iron ore from both companies. It also provides a framework for the potential investment by Vale in Fortescue through an acquisition of a minority equity stake on the market and / or investment in current or future mining assets.
Fortescue should benefit from stronger earnings if the proposed JVs with Vale are established, as the company says it could result in up to 30% of its annual output being blended with Vale's high-grade ore, creating a premium product to be sold in China. Fortescue expects JV operations to start as soon as in six months, provided that the MOU receives the requisite approvals from the boards of both companies and regulatory bodies.
Fitch expects Vale could also benefit from this agreement because Fortescue's ores, although lower in grade, have low impurities and strong sintering capabilities. The blend is likely to have stronger demand than if the individual ores are sold separately. The blend should also benefit from Fortescue's lower cost of producing and delivering iron ore into China. However the overall benefit to Vale's larger earnings base is likely to be lower than for Fortescue.
Fortescue's lower production and delivery costs for China are due to significant improvements in its C1 cash production costs over the last 24 months, as well as lower shipping costs because Fortescue is located closer to China - the main market for both companies. However some of Fortescue's cost advantage is offset by the higher quality of Vale's ores, which have a higher grade and lower moisture content, and Vale's sale of value-added products, such as iron ore pellets, which fetch premium prices.
Fitch estimates that at end-December 2015, Fortescue delivered iron ore to China at a cost of USD30/ton after adjusting for moisture and iron ore grade, but before accounting for interest costs and capex. Vale's comparable cost is around USD32/ton. However the gap widens in favour of Fortescue if interest costs and capex are included.
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Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
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Showing 2511 to 2515 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
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