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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low grade iron ore while major Chinese companies are buying up ore mines with two billion worth of reserves in Africa. "The ban will surely have an effect because about 50% of our exports are low grade iron ore," Royston Machado, an industry consultant working jointly with China Inspection and Quarantine, said. India sold 107 million tonnes accounting for 18% of Chinese imports in 2009.
The ban came into effect after the China Iron and Steel Association (CISA) advised ore buyers at a conference to stop buying low grade ores. "CISA has not yet issued a formal notification but the ban is already having an effect," Machado said.
The ban has not caused uproar because businesses in India are still not feeling the pinch. China has more than two months of stocks and the offtake from steel mills is low. Another reason is that the Goa port, which ships nearly half of Indian ores to China, is closed for monsoon.
"A clear picture would emerge after the Goa port reopens in October and there is a strong demand. Indian exports would be seriously reduced unless the government reconsiders the ban," sources said. The move was followed by a decision by the National Development and Reform Commission giving a green signal for the purchase of two African mines with reserves totaling 2 billion tonnes.
Three Chinese companies including the Wuhan Iron & Steel, are jointly buying a mine with reserves worth 800 million tonnes at Soalala in Madagascar. Wuhan has also purchased controlling stakes in the Bong Iron Ore company based in Liberia. Bong has proven reserves of over 1.3 billion tonnes.
Source: Times of India / Hellenic Shipping
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Larsen & Toubro Limited - India
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- Interocean Group of Companies - India
- Eastern Energy - Thailand
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- Siam City Cement - Thailand
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- Price Waterhouse Coopers - Russia
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- Globalindo Alam Lestari - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
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- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
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- Trasteel International SA, Italy
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- Ministry of Transport, Egypt
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- Power Finance Corporation Ltd., India
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- Jaiprakash Power Ventures ltd
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- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
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- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
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- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
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- Parliament of New Zealand
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
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- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
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- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
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- Attock Cement Pakistan Limited
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- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
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- Electricity Generating Authority of Thailand
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