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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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Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
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