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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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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Deloitte Consulting - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Australian Coal Association
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