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Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
 Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ore, thermal coal supply contracts have now been signed at a much higher price than last year. Recently, term contracts for Newcastle coal were signed at $97-98/mt between producer Xstrata and Japan’s Chubu Electric for 2010-2011, about 40 per cent higher than last year. These were initial contracts. Thermal coal is used by power plants.
Initial expectations were that contracts for thermal coal would be signed at $85-90 a tonne. Last year, thermal coal contracts were settled at $70 a tonne.
James O’Connell, managing editor, Platts, the premier agency that tracks the energy sector, said: “This initial contract is assumed by many to be a benchmark, especially when it is between two such big players.”
Some Japanese utilities link prices of their contracts to the global COAL index. Hence, they do not negotiate an annual price, just an annual tonnage contract. However, according to James: “Bumi Resources, Indonesia’s largest coal producer, told Platts that one of its two coal producing units, Kaltim Prima Corp, settled an FY10 contract with a major Japanese thermal coal buyer at $104/tonne FoB.”
India is expected to import nearly 60 million tonnes of thermal coal this year. MMTC and Adani Enterprises are major importers.
Thermal coal spot prices, ruling around contract prices at present, are unlikely to move up further. According to industry sources, China is presently not in the market and subdued imports from the neighbouring country mean prices will remain capped.
Jigar Shah, head of research, KIM ENG Securities India, said: “This is an initial contract and most of India’s thermal coal imports are from Indonesia. The prices at which they are negotiated will be crucial for Indian power and cement plants which import coal.” Many new private sector power companies import thermal coal. Most of India’s coal imports come from Indonesia and South Africa.
Source: Business-Standard (By: Rajesh Bhayani)
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- SN Aboitiz Power Inc, Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
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- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
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- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
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- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
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- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
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- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
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- Orica Australia Pty. Ltd.
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- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
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- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
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- Formosa Plastics Group - Taiwan
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- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
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- VISA Power Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
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- Edison Trading Spa - Italy
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- London Commodity Brokers - England
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- Rashtriya Ispat Nigam Limited - India
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- Gujarat Mineral Development Corp Ltd - India
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