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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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- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- The University of Queensland
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
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