What Glencore-Tohoku Coal talk Impass Means for Market
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan's Tohoku Electric and Glencore to agree on an annual thermal coal contract that is used to set prices for the region.
Glencore Acquires Rio Tinto's Hail Creek Coal Mine
Glencore consolidating in coal as Rio exits; Rio Tinto shares rise 0.9 pct, Glencore slips. Glencore is buying Rio Tinto's Hail Creek coal mine and the Valeria coal project in Australia for $1.7 billion, tightening the Swiss trading and mining giant's grip on coal as its rivals exit the industry.
Coking Coal Price Talks Stall
Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms. The Japanese are backed by BHP…
Glencore to Restart Australia Coal Mine as Prices Surge
Glencore said on Tuesday it would restart a coking coal mine in southeastern Australia that was shuttered more than two years ago, with a resurgence in prices for the commodity breathing new life into the sector. Less than a year after the coal industry was declared to be in terminal decline…
Nippon Steel, Sumitomo renew contract to supply line pipes to BP
Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp and trading firm Sumitomo Corp have renewed their contract with Britain's BP to supply line pipes. The new contract is effective for five years from July 1, with an option to extend the contract for another five years…
Statoil Awards Johan Sverdrup Pipeline Contracts
The total contract value is estimated at slightly less than NOK 2.5 billion, the three contracts cover both the oil and the gas export pipelines for Johan Sverdrup. The linepipe fabrication contract for the export pipelines was awarded to Mitsui & Co. Norway A.S.
Fukushima Floating Offshore Wind Project Progressing
An experimental offshore floating wind farm project sponsored by the Japanese Ministry of Economy, Trade and Industry has been underway since March 2012. Participating in the project is a consortium comprised of Marubeni (project integrator)…
Experimental Floating Wind Farm Nears Installation
Launched in March 2012, the Fukushima experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry is nearing the installation phase as preparatory works for the installation of the 7MW oil pressure…
Fukushima Experimental Offshore Floating Wind Farm Project Progresses
A consortium made up of Marubeni (project integrator), the University of Tokyo (technical advisor), Mitsubishi, Mitsubishi Heavy Industries, Japan Marine United, Mitsui Engineering & Shipbuilding, Nippon Steel & Sumitomo Metal Corporation, Hitachi…
DW: Cyclical Steel Ride Continues
Since 1990, steel has been used in the construction of some of the world’s biggest thrill rides but in recent years it is the steel market itself that has seen all the dips and climbs of a high speed rollercoaster. As the global shipping industry…
Vale to Shut Money-losing Coal Mine in Australia
Brazilian mining giant Vale said on Friday it plans to close its Integra coal mine in Australia because it is losing money, the latest in company efforts to row back from non-core overseas assets. The decision comes as Vale and rivals BHP Billiton…
Japan: Experimental Floating Wind Farm Project
A consortium comprising of Marubeni (project integrator), the University of Tokyo (technical advisor), Mitsubishi, Mitsubishi Heavy Industries, Japan Marine United, Mitsui Engineering & Shipbuilding, Nippon Steel & Sumitomo Metal Corporation…
Japan Experimental Floating Wind Turbine Update
The Japanese consortium participating in an experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry since March 2012, reports that the installation work of 2MW downwind-type floating wind turbine…
