Friday, 17 Feb 2012
Japan and Mozambique will cooperate on the development of coal, oil and natural gas in the southern African country as global competition to secure natural resources intensifies.
A memorandum of cooperation was signed today in Tokyo with Mozambique’s mineral resources ministry, the Ministry of Economy, Trade and Industry of Japan said in a statement. The agreement also covers the participation of Japanese companies in development projects.
Nippon Steel Corp and POSCO the largest steelmakers in Japan and South Korea, are investing in the $600 million Revuboe coking coal project in Mozambique. Coking coal and iron ore are the key raw materials used to make steel.
(Sourced from Bloomberg)
Showing posts with label Japanese. Show all posts
Showing posts with label Japanese. Show all posts
Friday, February 17, 2012
Thursday, February 16, 2012
Bulk carrier docks in Fukushima to discharge coal
Thursday, 16 Feb 2012
It is reported that the 87,000 DWT NYK-operated bulk carrier, Shirakumo arrived at the port of Soma wharf No 5 in Fukushima prefecture on February 9.
Shirakumo is the first coal carrier to berth at the wharf since the Great East Japan Earthquake.
The ship was carrying 63,000 tons of coal from Newcastle, Australia, destined for the Shinchi thermal power station of Soma Kyodo Power Co Ltd. Through the efforts of related parties, operations at the wharf could be resumed and more coal will be expected to make its way into the region resulting in a dramatic recovery of coal shipments into the area.
A poster containing encouraging messages from many citizens of Newcastle, including coal-exporting related parties was also delivered to Soma Kyodo Power Co Ltd by the vessel. NYK hopes the wharf is actively utilized for reconstruction of the affected areas.
NYK will continue its efforts to aid reconstruction of the affected area and help maintain a stable supply of energy resources.
1. Vessel Particulars
2. Length Overall: 229.00 meters
3. Deadweight tonnage: 87,144 tons
4. Flag: Singapore
5. Built year: 2006
6. Loaded cargo: 63,000 tons of coal
(Sourced from gcaptain.com)
It is reported that the 87,000 DWT NYK-operated bulk carrier, Shirakumo arrived at the port of Soma wharf No 5 in Fukushima prefecture on February 9.
Shirakumo is the first coal carrier to berth at the wharf since the Great East Japan Earthquake.
The ship was carrying 63,000 tons of coal from Newcastle, Australia, destined for the Shinchi thermal power station of Soma Kyodo Power Co Ltd. Through the efforts of related parties, operations at the wharf could be resumed and more coal will be expected to make its way into the region resulting in a dramatic recovery of coal shipments into the area.
A poster containing encouraging messages from many citizens of Newcastle, including coal-exporting related parties was also delivered to Soma Kyodo Power Co Ltd by the vessel. NYK hopes the wharf is actively utilized for reconstruction of the affected areas.
NYK will continue its efforts to aid reconstruction of the affected area and help maintain a stable supply of energy resources.
1. Vessel Particulars
2. Length Overall: 229.00 meters
3. Deadweight tonnage: 87,144 tons
4. Flag: Singapore
5. Built year: 2006
6. Loaded cargo: 63,000 tons of coal
(Sourced from gcaptain.com)
Tuesday, February 14, 2012
Mitsubishi clear to take control of Australia iron ore project
Tuesday, 14 Feb 2012
Reuters reported that Japan Mitsubishi Corp cleared the last hurdle on Monday to take control of iron ore, port and rail projects in Western Australia which are slated to cost USD 10 billion and which it hopes to fund with Chinese partners.
A spokesman said shareholders in Murchison Metals approved the sale of the company 50% stakes in the Jack Hills iron ore mine and its affiliated Oakajee port and rail project to its partner, Mitsubishi for AUD 325 million.
The deal is due to close on February 20. The long delayed port project is key to opening up a new iron ore province in Western Australia outside the control of dominant iron ore producers, Rio Tinto and BHP Billiton.
The AUD 5.9 billion Oakajee port and rail project and the USD 3.7 billion Jack Hills iron ore expansion project have been held back due to cost blowouts which Murchison could not afford and the failure to line up companies to use the infrastructure.
Murchison biggest shareholder, South Korean steel maker POSCO last year said it was considering buying stakes in Jack Hills and the Oakajee project.
Other potential partners in the infrastructure are Sinosteel which is developing the Midwest iron ore project and Angang Steel Co which is backing Gindalbie Metals' Karara iron ore project.
Last week, Western Australian Premier Mr Colin Barnett said Mitsubishi was due to meet with potential Chinese partners in Beijing later this month to discuss participating in the two projects.
Mr Barnett said "There is a major meeting in Beijing, in the next few weeks, involving Australian companies, the Chinese state owned enterprises, Mitsubishi, some financial institutions from China and that will be the critical meeting and hopefully bringing China formally into the project and moving forward."
(Sourced from Reuters)
Reuters reported that Japan Mitsubishi Corp cleared the last hurdle on Monday to take control of iron ore, port and rail projects in Western Australia which are slated to cost USD 10 billion and which it hopes to fund with Chinese partners.
A spokesman said shareholders in Murchison Metals approved the sale of the company 50% stakes in the Jack Hills iron ore mine and its affiliated Oakajee port and rail project to its partner, Mitsubishi for AUD 325 million.
The deal is due to close on February 20. The long delayed port project is key to opening up a new iron ore province in Western Australia outside the control of dominant iron ore producers, Rio Tinto and BHP Billiton.
The AUD 5.9 billion Oakajee port and rail project and the USD 3.7 billion Jack Hills iron ore expansion project have been held back due to cost blowouts which Murchison could not afford and the failure to line up companies to use the infrastructure.
Murchison biggest shareholder, South Korean steel maker POSCO last year said it was considering buying stakes in Jack Hills and the Oakajee project.
Other potential partners in the infrastructure are Sinosteel which is developing the Midwest iron ore project and Angang Steel Co which is backing Gindalbie Metals' Karara iron ore project.
Last week, Western Australian Premier Mr Colin Barnett said Mitsubishi was due to meet with potential Chinese partners in Beijing later this month to discuss participating in the two projects.
Mr Barnett said "There is a major meeting in Beijing, in the next few weeks, involving Australian companies, the Chinese state owned enterprises, Mitsubishi, some financial institutions from China and that will be the critical meeting and hopefully bringing China formally into the project and moving forward."
(Sourced from Reuters)
Sunday, February 12, 2012
Japanese minister seeks licence for Nippon Steel in Mozambique
Sunday, 12 Feb 2012
The Japanese Deputy Minister of Economy, Trade and Industry, Mr Tadahiro Matsushita has asked the Mozambican government to speed up the granting of a coal mining concession in the western province of Tete to the Nippon Steel Corporation.
Mr Matsushita made this request on Wednesday, during an audience granted by Mozambican President Armando Guebuza.
Nippon Steel has been exploring for coal in Revobue, near the mining concessions granted to Vale of Brazil and Riversdale of Australia (which has now been taken over by Rio Tinto). Now it needs to replace the exploration licence with a licence for a mining concession. Nippon Steel hopes to begin effective mining by 2014.
Mr Matsushita told reporters after the audience that "In the meeting with President Guebuza we spoke of coal exploration in Tete, because there is a Japanese company working on prospection which wants a licence for a mining concession. I asked the President to grant the licence as quickly as possible.”
He added that "We don't just want to extract coal, but we also want to rehabilitate infrastructures, train Mozambican staff, and help generate employment, thus contributing to Mozambique's development.”
The list of infrastructures that Japan wants to rehabilitate includes the northern port of Nacala and the road links from Tete to Nacala.
As for natural gas, Mr Matsushita said Japan sees that Mozambique has great potential in this area, and we are going to negotiate so that in future we can implement projects. There are many Japanese companies that have shown an interest in natural gas.
In order to step up cooperation between the two countries in mineral resources, two high level Mozambican delegations will visit Japan later this month. The first, led by the Minister of Mineral Resources, Esperanca Bias, will travel to Japan next week.
(Sourced from allafrica.com)
The Japanese Deputy Minister of Economy, Trade and Industry, Mr Tadahiro Matsushita has asked the Mozambican government to speed up the granting of a coal mining concession in the western province of Tete to the Nippon Steel Corporation.
Mr Matsushita made this request on Wednesday, during an audience granted by Mozambican President Armando Guebuza.
Nippon Steel has been exploring for coal in Revobue, near the mining concessions granted to Vale of Brazil and Riversdale of Australia (which has now been taken over by Rio Tinto). Now it needs to replace the exploration licence with a licence for a mining concession. Nippon Steel hopes to begin effective mining by 2014.
Mr Matsushita told reporters after the audience that "In the meeting with President Guebuza we spoke of coal exploration in Tete, because there is a Japanese company working on prospection which wants a licence for a mining concession. I asked the President to grant the licence as quickly as possible.”
He added that "We don't just want to extract coal, but we also want to rehabilitate infrastructures, train Mozambican staff, and help generate employment, thus contributing to Mozambique's development.”
The list of infrastructures that Japan wants to rehabilitate includes the northern port of Nacala and the road links from Tete to Nacala.
As for natural gas, Mr Matsushita said Japan sees that Mozambique has great potential in this area, and we are going to negotiate so that in future we can implement projects. There are many Japanese companies that have shown an interest in natural gas.
In order to step up cooperation between the two countries in mineral resources, two high level Mozambican delegations will visit Japan later this month. The first, led by the Minister of Mineral Resources, Esperanca Bias, will travel to Japan next week.
(Sourced from allafrica.com)
Wednesday, February 8, 2012
Australian iron ore exports
Wednesday, 08 Feb 2012
Australia trade data shows that December saw a strong rebound in Australian iron ore exports, up 18% to an all time high of 46.2 million tonne (wet basis). This, in turn, ensured an annual total of almost 460 million tonne in 2011, up 9% on the corresponding 2010 level.
China accounted for 70% of the total exports, followed by Japan at 17% and South Korea at 10%. Most of the annual rise was due to increased shipments to China, with an increase of 34 million tonne year on year to a new record of 321 million tonne.
(sourced www.ssyonline.com)
Australia trade data shows that December saw a strong rebound in Australian iron ore exports, up 18% to an all time high of 46.2 million tonne (wet basis). This, in turn, ensured an annual total of almost 460 million tonne in 2011, up 9% on the corresponding 2010 level.
China accounted for 70% of the total exports, followed by Japan at 17% and South Korea at 10%. Most of the annual rise was due to increased shipments to China, with an increase of 34 million tonne year on year to a new record of 321 million tonne.
(sourced www.ssyonline.com)
Wednesday, January 4, 2012
Iron ore prices may average 11pct lower in 2012 - IG Markets
Wednesday, 04 Jan 2012
Bloomberg quoted according to Mr Chris Weston IG Markets institutional dealer that Iron ore prices may decline by as much as 11% on average this year because of concern that global economic growth may falter.
Mr Weston said the steelmaking raw material may average between USD 150 and USD 160 per tonne in 2012. Iron ore with 62% content delivered to the port of Tianjin, China averaged USD 167.60 a ton in 2011 and traded at USD 138.50 on December 30.
He said that “I see flat trade, I don’t see any explosive price action to the upside. There are obviously some real risks to global growth and Chinese growth as well.”
Mr Weston said “I do see some positivity in terms of the supply side. There is potential for substantial delays in the Brazilian projects, so that will keep prices relatively elevated and supported.”
Commodities from wheat and palm oil to copper declined in 2011 as the European debt crisis and declining global growth stoked concern that demand for raw materials will shrink. Economic growth in China will slow to 8.5% this year after growing 10.4% in 2010, the Organization for Economic Cooperation and Development projected on November 28.
Ore delivered to China from Australia, the biggest exporter, will average USD 150 per tonne in 2012 up from a forecast USD 140 a ton.
(Sourced from Bloomberg)
Bloomberg quoted according to Mr Chris Weston IG Markets institutional dealer that Iron ore prices may decline by as much as 11% on average this year because of concern that global economic growth may falter.
Mr Weston said the steelmaking raw material may average between USD 150 and USD 160 per tonne in 2012. Iron ore with 62% content delivered to the port of Tianjin, China averaged USD 167.60 a ton in 2011 and traded at USD 138.50 on December 30.
He said that “I see flat trade, I don’t see any explosive price action to the upside. There are obviously some real risks to global growth and Chinese growth as well.”
Mr Weston said “I do see some positivity in terms of the supply side. There is potential for substantial delays in the Brazilian projects, so that will keep prices relatively elevated and supported.”
Commodities from wheat and palm oil to copper declined in 2011 as the European debt crisis and declining global growth stoked concern that demand for raw materials will shrink. Economic growth in China will slow to 8.5% this year after growing 10.4% in 2010, the Organization for Economic Cooperation and Development projected on November 28.
Ore delivered to China from Australia, the biggest exporter, will average USD 150 per tonne in 2012 up from a forecast USD 140 a ton.
(Sourced from Bloomberg)
Monday, November 21, 2011
Japan Oct Steel imports up 28 pct yr/yr on yen
Mon Nov 21, 2011
TOKYO, Nov 21 (Reuters) - Japanese imports of steel grew 28 percent from a year ago in October as the strong yen widened a price gap between domestic and foreign producers, preliminary customs data showed on Monday.
Details of the September data are as follows (value column in millions of yen):
TOKYO, Nov 21 (Reuters) - Japanese imports of steel grew 28 percent from a year ago in October as the strong yen widened a price gap between domestic and foreign producers, preliminary customs data showed on Monday.
Details of the September data are as follows (value column in millions of yen):
Volume Yr/Yr Value Yr/Yr
Grain 1,981,001 tonnes -3.2% 66,591 36.4%
(from U.S.) 1,215,350 tonnes -12.4% 37,237 29.1%
Soybeans 314,904 tonnes 8.1% 15,098 22.6%
(from U.S.) 129,773 tonnes -2.4% 6,160 8.2%
Meat 214,589 tonnes 15.3% 90,645 20.9%
(from U.S.) 55,559 tonnes 28.8% 24,287 26.6%
Nonferrous Ore 1,379,000 tonnes 14.8% 126,557 -4.3%
Nonferrous Met 317,792 tonnes 21% 144,526 15.9%
Steel 793,954 tonnes 28.4% 90,042 32.5%
(sourced Reuters)
Tuesday, November 1, 2011
EU-27 unemployment rate at 9.7 percent in September
Tuesday, 1 November 2011
On October 31, Eurostat, the Statistical Office of the European Communities, reported that the seasonally adjusted unemployment rate in the European Union member states (EU-27) was 9.7 percent in September this year, rising sligthly from 9.6 percent recorded in August. The unemployment rate in the region was 9.6 percent in September 2010.
Among the member states, the lowest unemployment rates were recorded in Austria at 3.9 percent, in the Netherlands at 4.5 percent and in Luxembourg at 4.8 percent, and the highest rates were seen in Spain at 22.6 percent, in Greece at 17.6 percent (in Q1 2011) and in Latvia at 16.1 percent (in Q2 2011).
Meanwhile, in the US the unemployment rate was 9.1 percent in September this year, while in Japan the unemployment rate was 4.3 percent in August.
Tags: European Union , economics
sourced:steel orbis
On October 31, Eurostat, the Statistical Office of the European Communities, reported that the seasonally adjusted unemployment rate in the European Union member states (EU-27) was 9.7 percent in September this year, rising sligthly from 9.6 percent recorded in August. The unemployment rate in the region was 9.6 percent in September 2010.
Among the member states, the lowest unemployment rates were recorded in Austria at 3.9 percent, in the Netherlands at 4.5 percent and in Luxembourg at 4.8 percent, and the highest rates were seen in Spain at 22.6 percent, in Greece at 17.6 percent (in Q1 2011) and in Latvia at 16.1 percent (in Q2 2011).
Meanwhile, in the US the unemployment rate was 9.1 percent in September this year, while in Japan the unemployment rate was 4.3 percent in August.
Tags: European Union , economics
sourced:steel orbis
Winsway and Marubeni to acquire Grande Cache Coal
Tuesday, 01 Nov 2011
China’s Winsway Coking Coal Holdings Ltd and Japan’s Marubeni Corp. agreed to acquire Canadian metallurgical coal producer Grande Cache Coal Corp. for about CAD 1 billion.
Winsway and Marubeni will pay CAD 10 a share in cash, 112% more than its 20 day volume weighted average trading price. As per report “Winsway and Marubeni are offering CAD 9 a ton of coal reserves, which is more than the average of CAD 2.91 a ton for comparable North American metallurgical coal transactions and less than the CAD 17.86 a ton Walter paid for Western Coal.”
Grande Cache, which mines in west central Alberta, forecast sales of 2.2 million tons to 2.4 million tons in the year ended March 2012.
Winsway imports metallurgical coal into China and Marubeni is Japan’s fifth largest trading company.
The Grande Cache agreement includes a break fee of CAD 50 million payable by Grande Cache if the deal isn’t completed. Winsway and Marubeni will pay Cad 100 million if they scrap the deal.
The acquisition, which requires approval by two-thirds of Grande Cache shareholders and a majority of Winsway shareholders, is expected to close in February.
Deutsche Bank AG and UBS AG are advising Grande Cache and Burnet Duckworth & Palmer LLP is the company’s legal counsel. The acquirers are being advised by Toronto-Dominion Bank and law firm Osler, Hoskin & Harcourt LLP.
(Sourced from Bloomberg)
China’s Winsway Coking Coal Holdings Ltd and Japan’s Marubeni Corp. agreed to acquire Canadian metallurgical coal producer Grande Cache Coal Corp. for about CAD 1 billion.
Winsway and Marubeni will pay CAD 10 a share in cash, 112% more than its 20 day volume weighted average trading price. As per report “Winsway and Marubeni are offering CAD 9 a ton of coal reserves, which is more than the average of CAD 2.91 a ton for comparable North American metallurgical coal transactions and less than the CAD 17.86 a ton Walter paid for Western Coal.”
Grande Cache, which mines in west central Alberta, forecast sales of 2.2 million tons to 2.4 million tons in the year ended March 2012.
Winsway imports metallurgical coal into China and Marubeni is Japan’s fifth largest trading company.
The Grande Cache agreement includes a break fee of CAD 50 million payable by Grande Cache if the deal isn’t completed. Winsway and Marubeni will pay Cad 100 million if they scrap the deal.
The acquisition, which requires approval by two-thirds of Grande Cache shareholders and a majority of Winsway shareholders, is expected to close in February.
Deutsche Bank AG and UBS AG are advising Grande Cache and Burnet Duckworth & Palmer LLP is the company’s legal counsel. The acquirers are being advised by Toronto-Dominion Bank and law firm Osler, Hoskin & Harcourt LLP.
(Sourced from Bloomberg)
Monday, October 31, 2011
Canada's Grande Cache agrees to C$1 bln buyout
Mon Oct 31, 2011
* All-cash deal for Grande Cache worth about C$1 billion
* Winsway, Marubeni to pay C$10 per Grande Cache share
* Grande Cache shares surge 66 pct on the TSX
* Deal is part of M&A wave fueled by Chinese demand
TORONTO, Oct 31 (Reuters) - Canada's Grande Cache Coal has agreed to be acquired by Winsway Coking Coal and Marubeni Corp in a C$1 billion ($1 billion) deal fueled by demand from China's steelmakers.
Hong Kong-listed Winsway -- a supplier of coking coal to Chinese steelmakers -- and Japanese trading house Marubeni will pay C$10 cash for each share of Grande Cache, a 70 percent premium to the company's closing price on Oct. 28.
The offer, announced on Monday, is part of a flurry of deal activity in the global coal industry, including Peabody Energy's $5 billion offer to buy Australia's Macarthur Coal .
Miners are scrambling to capitalize on rising demand from China and Indiaeven as uncertainty surrounds the broad economic outlook. Producers of thermal coal, used in power plants, and coking or metallurgical coal, used to make steel, have both become targets.
Grande Cache, the most actively traded stock on the TSX on Monday, was also the biggest gainer on the day, up 66 percent to C$9.77 in early trading.
The Calgary, Alberta-based coking coal miner said its board unanimously approved the deal and believes that it is in the best interest of shareholders.
Directors and officers of the company have agreed to tender their shares in favor of the deal, the company said in a statement.
The company said it won't initiate talks with any other parties about a possible business combination.
Peabody is in the process of buying Macarthur on its own after ArcelorMittal , the world's largest steelmaker, pulled out of a joint $5 billion bid.
Earlier this month, New Hope , an Australian coal miner, put itself up for auction after receiving several approaches.
(sourced Reuters)
* All-cash deal for Grande Cache worth about C$1 billion
* Winsway, Marubeni to pay C$10 per Grande Cache share
* Grande Cache shares surge 66 pct on the TSX
* Deal is part of M&A wave fueled by Chinese demand
TORONTO, Oct 31 (Reuters) - Canada's Grande Cache Coal has agreed to be acquired by Winsway Coking Coal and Marubeni Corp in a C$1 billion ($1 billion) deal fueled by demand from China's steelmakers.
Hong Kong-listed Winsway -- a supplier of coking coal to Chinese steelmakers -- and Japanese trading house Marubeni will pay C$10 cash for each share of Grande Cache, a 70 percent premium to the company's closing price on Oct. 28.
The offer, announced on Monday, is part of a flurry of deal activity in the global coal industry, including Peabody Energy's $5 billion offer to buy Australia's Macarthur Coal .
Miners are scrambling to capitalize on rising demand from China and Indiaeven as uncertainty surrounds the broad economic outlook. Producers of thermal coal, used in power plants, and coking or metallurgical coal, used to make steel, have both become targets.
Grande Cache, the most actively traded stock on the TSX on Monday, was also the biggest gainer on the day, up 66 percent to C$9.77 in early trading.
The Calgary, Alberta-based coking coal miner said its board unanimously approved the deal and believes that it is in the best interest of shareholders.
Directors and officers of the company have agreed to tender their shares in favor of the deal, the company said in a statement.
The company said it won't initiate talks with any other parties about a possible business combination.
Peabody is in the process of buying Macarthur on its own after ArcelorMittal , the world's largest steelmaker, pulled out of a joint $5 billion bid.
Earlier this month, New Hope , an Australian coal miner, put itself up for auction after receiving several approaches.
(sourced Reuters)
Thursday, October 13, 2011
India’s JSW and Japan’s MISI ink deal for steel processing JV in India
Thursday, 13 October 2011
Indian steelmaker JSW Steel Ltd has announced that it has signed a joint venture agreement with Japanese trading company Marubeni-Itochu Steel Inc. (MISI) to build a state-of-the-art steel processing center in northern India, under the name of JSW MI Steel Service Center Pvt. Ltd.
Both parties will hold 50 percent equity in the joint venture. The project will cost INR 1.22 billion ($24.8 million), 50 percent of which will be funded through equity and 50 percent through banks.
According to the JSW Steel statement, the first phase of the project is expected to come on stream in FY 2012-13 with an initial installed capacity of 180,000 mt per annum. The joint venture company will process flat steel products such as hot rolled, cold rolled and coated products for automotive, white goods, construction and other value-added sectors.
Tags: hrc , crc , coated , flats , India , Japan , Far East , Indian Subcon , production , investments , automotive , construction , steelmaking , white goods , JSW Steel , East Asia and Pacific , South Asia , Marubeni Corporation
(sourced steelorbis)
Indian steelmaker JSW Steel Ltd has announced that it has signed a joint venture agreement with Japanese trading company Marubeni-Itochu Steel Inc. (MISI) to build a state-of-the-art steel processing center in northern India, under the name of JSW MI Steel Service Center Pvt. Ltd.
Both parties will hold 50 percent equity in the joint venture. The project will cost INR 1.22 billion ($24.8 million), 50 percent of which will be funded through equity and 50 percent through banks.
According to the JSW Steel statement, the first phase of the project is expected to come on stream in FY 2012-13 with an initial installed capacity of 180,000 mt per annum. The joint venture company will process flat steel products such as hot rolled, cold rolled and coated products for automotive, white goods, construction and other value-added sectors.
Tags: hrc , crc , coated , flats , India , Japan , Far East , Indian Subcon , production , investments , automotive , construction , steelmaking , white goods , JSW Steel , East Asia and Pacific , South Asia , Marubeni Corporation
(sourced steelorbis)
Tuesday, October 11, 2011
Vale begins construction on Malaysian iron ore distribution center
Tuesday, 11 October 2011
Brazil-based Vale announced Friday that it has started construction on a new iron ore distribution center in Teluk Rubiah, Malaysia that will be geared toward steel industries in the Asia Pacific region. Vale is investing US$1.4 billion in the first phase of the project that will include an iron ore pelletizing plant that will process iron received from Brazil. The location of the new facility will be large enough to handle Vale's new very large iron ore carriers (VLOCs) that can hold about 400,000 tons of iron ore.
While Vale plans to target customers in Malaysia, Australia and Japan, it will pay extra attention to sending iron ore to China. News reports have indicated that Vale has struggled to compete with its major iron ore producing rivals BHP Billiton and Rio Tinto to supply iron ore for the Chinese market because of the amount of time it takes to ship iron ore from Brazil to China. A distribution center in Malaysia with significantly cut down on the travel time, making Vale more competitive in the growing Chinese steelmaking industry.
Vale also recently announced that it is also planning to launch a transshipment hub for iron ore distribution at Subic Bay in the Philippines this month, as well.
Tags: iron ore , raw mat , USA , Australia , China , Japan , Malaysia , Oceania , Far East , North America , South America , Southeast Asia , Vale , production , investments , steelmaking , mining , East Asia and Pacific
(sourced steelorbis)
Brazil-based Vale announced Friday that it has started construction on a new iron ore distribution center in Teluk Rubiah, Malaysia that will be geared toward steel industries in the Asia Pacific region. Vale is investing US$1.4 billion in the first phase of the project that will include an iron ore pelletizing plant that will process iron received from Brazil. The location of the new facility will be large enough to handle Vale's new very large iron ore carriers (VLOCs) that can hold about 400,000 tons of iron ore.
While Vale plans to target customers in Malaysia, Australia and Japan, it will pay extra attention to sending iron ore to China. News reports have indicated that Vale has struggled to compete with its major iron ore producing rivals BHP Billiton and Rio Tinto to supply iron ore for the Chinese market because of the amount of time it takes to ship iron ore from Brazil to China. A distribution center in Malaysia with significantly cut down on the travel time, making Vale more competitive in the growing Chinese steelmaking industry.
Vale also recently announced that it is also planning to launch a transshipment hub for iron ore distribution at Subic Bay in the Philippines this month, as well.
Tags: iron ore , raw mat , USA , Australia , China , Japan , Malaysia , Oceania , Far East , North America , South America , Southeast Asia , Vale , production , investments , steelmaking , mining , East Asia and Pacific
(sourced steelorbis)
Tuesday, October 4, 2011
ASSOCHAM against long-term iron ore export contracts by NMDC
Tuesday, 04 Oct 2011
ASSOCHAM has opposed the move of signing long-term export contract of iron ore with Japan and Korea by the National Mineral Development Corporation particularly in the context of current crisis.
In a representation to the central government, the chamber has stated that we should not be allocating the national resources for meeting the requirements of steel makers abroad without fulfilling the domestic requirements.
Mr D.S. Rawat secretary general of ASSOCHAM said that 40 million tonnes of iron ore production has already been reduced from the total iron ore production of the country subsequent to the orders of Supreme Court to ban the mining activity in Bellary, Chitradurga and Tumkur district in the State of Karnataka.
He further said “This has created acute shortage of iron ore and led to stoppage of almost all the sponge iron plant in Karnataka and neighboring state and most of the iron and steel plants are operating only at 30% to 50% capacity utilization and are on the verge of complete closure.”
ASSOCHAM has opposed the move of signing long-term export contract of iron ore with Japan and Korea by the National Mineral Development Corporation particularly in the context of current crisis.
In a representation to the central government, the chamber has stated that we should not be allocating the national resources for meeting the requirements of steel makers abroad without fulfilling the domestic requirements.
Mr D.S. Rawat secretary general of ASSOCHAM said that 40 million tonnes of iron ore production has already been reduced from the total iron ore production of the country subsequent to the orders of Supreme Court to ban the mining activity in Bellary, Chitradurga and Tumkur district in the State of Karnataka.
He further said “This has created acute shortage of iron ore and led to stoppage of almost all the sponge iron plant in Karnataka and neighboring state and most of the iron and steel plants are operating only at 30% to 50% capacity utilization and are on the verge of complete closure.”
Monday, August 29, 2011
Japan's Kyushu delays coal unit restart by a day
Mon Aug 29, 2011
TOKYO Aug 29 (Reuters) - Southern Japan utility Kyushu Electric Power Co said on Monday it expects to resume operations of the new 360-megawatt coal-fired No.1 unit at its Karita plant on Tuesday following an unplanned shutdown, a day later than previously scheduled.
The unit has been closed since Aug. 4 due to a boiler problem.
Thursday, August 25, 2011
Japanese regulator clears Peabody ArcelorMittal bid for Macarthur Coal
Thursday, 25 Aug 2011
Japan's competition regulator has cleared a USD 5 billion hostile bid for Australia's Macarthur Coal by Peabody Energy and ArcelorMittal.
Macarthur is resisting the AUD 15.66 a share offer, which includes Macarthur's final dividend. Macarthur considers the offer too low and is due to respond to it by September 1.
(sourced from Reuters)
Japan's competition regulator has cleared a USD 5 billion hostile bid for Australia's Macarthur Coal by Peabody Energy and ArcelorMittal.
Macarthur is resisting the AUD 15.66 a share offer, which includes Macarthur's final dividend. Macarthur considers the offer too low and is due to respond to it by September 1.
(sourced from Reuters)
Monday, February 21, 2011
SAIL in talks for tie up for CRGO and CRNGO technology
Monday, 21 Feb 2011
PTI reported that Steel Authority of India is at advanced level of talks with 2 to 3 Japanese and Korean firms to produce electrical steels CRGO and CRNO.
As per report, SAIL would like to have a technological partner but is also open to the options of entering into JV agreement with the prospective partner.
Mr CS Verma chairman of SAIL said that the current domestic market size for CRGO products would be USD 1.5 billion to USD 2 billion and the future growth is linked with the spurt in the power sector.
No Indian steel maker has the technology to produce CRGO steel.
(Sourced from PTI)
PTI reported that Steel Authority of India is at advanced level of talks with 2 to 3 Japanese and Korean firms to produce electrical steels CRGO and CRNO.
As per report, SAIL would like to have a technological partner but is also open to the options of entering into JV agreement with the prospective partner.
Mr CS Verma chairman of SAIL said that the current domestic market size for CRGO products would be USD 1.5 billion to USD 2 billion and the future growth is linked with the spurt in the power sector.
No Indian steel maker has the technology to produce CRGO steel.
(Sourced from PTI)
Thursday, February 3, 2011
Asia Coal-Australia thermal coal prices up over $127/tonne
By Rebekah Kebede
PERTH Wed Feb 2, 2011 1:35pm IST
(Reuters) - Australia's thermal coal prices, a benchmark for Asia, climbed to more than $127 a tonne week to date, supported by the ongoing impact of floods in Queensland state on coal supplies.
Thermal coal on the globalCOAL Newcastle index for the week to date was $127.88 per tonne on Tuesday, up from $124.44 a week earlier and up more than $5 from $122.98 on Friday.
"It's definitely very tight. The floods have had their impact, no doubt about it. It's tight on the ground and most people feel it," one trade source said.
"It seems to be tight everywhere - I don't think there are any coal-producing basins globally that are not tight and it's obviously reflected in the price," the source said.
With supplies scarce and the start of the Chinese New Year, however, traders said that actual deals done were few and far between.
"I'm not actually sure how much physical has been done out of there," a Sydney based trader said. "There aren't that many physical tonnes to be traded."
The market was also keeping a close eye on Cyclone Yasi, which was barreling toward Queensland's northern coast and expected to land on early Thursday.
Floods in Queensland have already caused about 5.5 million tonnes of Australian production to be lost, according to a Reuters poll conducted last week.
Although Queensland produces mostly coking coal used for steelmaking, it does produce some thermal coal and any more severe weather could cause further production losses and reduce supplies.
Xstrata has already shut its 6 million tonne per annum (mtpa) Collinsville mine, which produces both coking and thermal coal, ahead of the cyclone. The company is also considering shutting its Newlands mine, which produces 11 mtpa of thermal and coking coal for export.
Supplies from neighboring Indonesia are also expected to be restricted with some Indonesian coal traders have declared force majeure after a trade rule change, with around 60-70 vessels stuck in various ports and 3.5 million tonnes unable to be shipped.
WEEK AHEAD
The market will continue to monitor Cyclone Yasi and watch for impacts to both coal mines and infrastructure. Any further coal disruptions could spark another price rally in thermal coal.
In the wake of the Queensland floods, thermal coal prices climbed nearly 30 percent to over $140 per tonne in mid-January from about $110 per tonne at the beginning of the year.
With supplies tight, market players will be looking for Japanese, South Korean, and Taiwanese utilities to begin looking for supplies later on in the year. (sourced:reuters)
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