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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Banpu Public Company Limited - Thailand
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- Planning Commission, India
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- White Energy Company Limited
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- The University of Queensland
- Economic Council, Georgia
- Commonwealth Bank - Australia
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- Thiess Contractors Indonesia
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- Renaissance Capital - South Africa
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- The Treasury - Australian Government
- Parliament of New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
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- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
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- Chamber of Mines of South Africa
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- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
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- Kaltim Prima Coal - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
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- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
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- Minerals Council of Australia
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- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
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- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- London Commodity Brokers - England
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