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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
 Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per cent higher while iron ore prices are also set to soar, according to a new report from Scotiabank.
"A broadening recovery in the steel market" has resulted in dramatically higher prices for the two commodities, both of which are used in the production of steel, said Scotiabank commodity specialist Patricia Mohr.
"Last year, China's steel production increased hugely, partly because of their infrastructure development program but also just because of the growth in their economy," Mohr said.
"Now, this year, the steel production in China is going to increase further... and on top of that you're going to get a recovery in the steel industries in the G7 countries."
This means the prices being hammered out in contract negotiations for the two commodities are substantially higher than they were last year.
For example, contract prices for premium-grade coking coal produced by Vancouver-based Teck Resources Ltd. will rise from US$128 per tonne to $200 per tonne for the April-to-June quarter. This compares with a record high of $300 per tonne in 2008.
"Even the $128 was a lucrative price for coking coal, so $200 is extremely lucrative for the companies. They'll be making a lot of money," Mohr said, adding that she expects prices to go even higher in the second quarter of fiscal 2010.
This is partly because Australia's Hay Point, one of the world's most important shipping ports for coking coal, was damaged by a cyclone last week, tightening the market even further.
Meanwhile, "huge price gains" are also likely for Canadian iron ore producers, Mohr said.
According to the Scotiabank report, the spot price of Indian iron ore delivered into northern China has risen to between US$154 and $157 per tonne - 122 per cent higher than the annual contract price for ore from Australia delivered to northern China. This points to a jump in annual contract prices for fiscal 2010, which is bad news for steel producers, Mohr said.
"It's going to squeeze steel producers around the world, so they are going to have to jack up steel prices quite quickly," she said.
While steelmakers may suffer, the strong price increases bode well for the many Canadian companies that produce coking coal - including Teck, Grande Cache Coal Corp. and Western Coal Corp. - as well as iron ore producers like Labrador Iron Ore Royalty Income Fund, Baffinland Iron Mines Corp., Consolidated Thompson Iron Mines Ltd. and Adriana Resources Inc.
In Canada, coking coal is primarily found in British Columbia and Alberta, while there are major iron ore deposits in Quebec, Labrador and on Baffin Island in Nunavut.
Scotiabank's commodity price index, released Monday, slipped 0.7 per cent in February after four consecutive monthly gains due to concerns about the economies of some European countries.
Investor worries about debt risks in Greece, Portugal and Spain led to a decreased appetite for risk and a flight into "safe-haven" investments like U.S. treasuries, which in turn pushed commodity prices lower.
The metal and minerals index fell by three per cent between January and February due to a temporary pullback in base metal, gold and silver prices.
Scotiabank's oil and gas index fell by 4.5 per cent month over month due to lower prices for natural gas and crude, but world oil demand is growing again and should be on a par with the previous peak seen in 2007 by next year, the report said.
Meanwhile, the forest products index grew by 8.1 per cent in February due in large part to the earthquake in Chile last month. The earthquake was centred in the country's major pulp-producing region and cut global pulp production capability by 7.5 per cent.
The agricultural index gained 0.6 per cent due to stronger lobster and hog prices, which offset small declines in cattle, wheat, barley and canola prices.
Source: Winnipeg Free Press (By: Kristine Owram)
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
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