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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 $104/tonne FoB.”
India is expected to import nearly 60 million tonnes of thermal coal this year. MMTC and Adani Enterprises are major importers.
Thermal coal spot prices, ruling around contract prices at present, are unlikely to move up further. According to industry sources, China is presently not in the market and subdued imports from the neighbouring country mean prices will remain capped.
Jigar Shah, head of research, KIM ENG Securities India, said: “This is an initial contract and most of India’s thermal coal imports are from Indonesia. The prices at which they are negotiated will be crucial for Indian power and cement plants which import coal.” Many new private sector power companies import thermal coal. Most of India’s coal imports come from Indonesia and South Africa.
Source: Business-Standard (By: Rajesh Bhayani)
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Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
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- Meralco Power Generation, Philippines
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- SMC Global Power, Philippines
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- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
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- MS Steel International - UAE
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- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
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- Attock Cement Pakistan Limited
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- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
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- Renaissance Capital - South Africa
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- Thai Mozambique Logistica
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- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
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- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
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- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
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- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
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- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Mjunction Services Limited - India
- Georgia Ports Authority, United States
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- Karbindo Abesyapradhi - Indoneisa
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- Maheswari Brothers Coal Limited - India
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- Madhucon Powers Ltd - India
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- McConnell Dowell - Australia
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- Australian Coal Association
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- Jorong Barutama Greston.PT - Indonesia
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- Independent Power Producers Association of India
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- Merrill Lynch Commodities Europe
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- Bangladesh Power Developement Board
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- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
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- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
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- Parliament of New Zealand
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- Ministry of Finance - Indonesia
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- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
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- PowerSource Philippines DevCo
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- Metalloyd Limited - United Kingdom
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- Sical Logistics Limited - India
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- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
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