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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Jaiprakash Power Ventures ltd
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- Semirara Mining Corp, Philippines
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- Global Coal Blending Company Limited - Australia
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- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
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- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
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- Gujarat Mineral Development Corp Ltd - India
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- White Energy Company Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Africa Commodities Group - South Africa
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- Economic Council, Georgia
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- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
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- Toyota Tsusho Corporation, Japan
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- IEA Clean Coal Centre - UK
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- The State Trading Corporation of India Ltd
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- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
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- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
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- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- The University of Queensland
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- PowerSource Philippines DevCo
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- Tamil Nadu electricity Board
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- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
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- Ambuja Cements Ltd - India
- London Commodity Brokers - England
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- Commonwealth Bank - Australia
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