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Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
 The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013, but is unlikely to be sustainable due to the weak demand for steel, Fitch Ratings says. This should help margins recover later in the year.
While we expect margin pressures to abate, iron ore prices have become more volatile as supply contracts have moved from annual to quarterly or spot pricing, with volatility rising 16% in 2012. This means that both higher-cost producers and consumers of iron ore face higher uncertainty on cash flows.
Iron ore prices have risen around 30% since the start of December, while the price of semi-finished steel products has remained practically unchanged, putting pressure on profits at steelmakers that don't have their own ore supplies. The recovery of iron ore prices follows a fall to their lowest level in more than three years in September. This primarily resulted from destocking by Chinese steel mills. It is likely that the fall in prices resulted in some Chinese mines temporarily halting production, providing further impetus for a price rebound.
But the balance of power in price negotiations is likely to swing back towards steel producers for the rest of the year due to the slowing growth in demand for steel products. Steel producers are unable to transfer increased iron ore costs to customers through an increase of steel products' prices and also have limited ability to absorb increased costs by themselves due to already low operating margins. In Europe weak demand from the construction and automotive markets will lead to a drop in steel production, while in China we believe the rate of steel demand growth has peaked - although production volumes will continue to increase, the rate of growth is likely to be below 5% a year.
These trends mean we expect the ratio of iron ore to steel slab prices to remain close to the 2012 level of 0.25x, rather than the high of 0.29x reached in 2010.
Source: Fitch Ratings
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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Electricity Authority, New Zealand
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