We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
 China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore and coking coal and widens premiums and discounts for the products’ various grades relative to benchmarks, say Fitch Ratings and CRU. The effect on individual miners’ cash flow depends on the prevailing product grade in each company’s portfolio.
We expect the wider premium and discount relationships to persist in the short term, but for the gap to tighten over time. This mutes the effect on miners’ ratings, as we rate on our mid-cycle long-term pricing assumptions and the ratings already capture the miners’ product quality.
China’s steel sector has undergone significant reform since March 2016, eliminating 260 million tonnes of capacity and increasing capacity utilisation to above 85%, from 70%-75%. Enhanced efficiency and maximisation of blast furnace output has seen record premiums for high-grade iron ore and coking coal, as premium input materials improve steelmaking productivity. Discounts for lower-grade products have widened due to lower demand.
However, there is an upper threshold for the price of high-grade iron ore that steelmakers are willing to pay, as blast furnace productivity is a function of numerous variables, including injection rates, oxygen and pellet usage as well as coke strength after reaction. These variables are more likely to be employed if the premium on higher-grade iron ore remains high, resulting in a narrowing price differential between various iron ore grades in the long term. Similarly, we expect the price difference between premium coking coal and standard coking coal to come closer to the historical 25%-30%, down from the recent 40%-65% range.
Brazil-based Vale’s (BBB+/Stable) cash flow benefits the most from the prevailing pricing conditions due to its high-grade iron ore content of over 64% across the portfolio, with a number of assets producing 65% ore. The cash flow of Australia-based Fortescue (BB+/Stable) will suffer due to wider discounts on its 56%-59% ore, while that of BHP (A+/Negative) and Rio Tinto (A/Stable) will remain largely unaffected due to an average iron content of 61%-62% produced in their mines. However, BHP is set to benefit from the record premium coking-coal price difference due to its large portfolio of premium coking-coal assets.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
|
|
|
Showing 1641 to 1645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- The University of Queensland
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
|
| |
| |
|
