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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Eastern Coal Council - USA
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- Directorate Of Revenue Intelligence - India
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- Economic Council, Georgia
- Australian Commodity Traders Exchange
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- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
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- Electricity Authority, New Zealand
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- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
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- Samtan Co., Ltd - South Korea
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- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
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- Romanian Commodities Exchange
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- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
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- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
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- Wood Mackenzie - Singapore
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- PowerSource Philippines DevCo
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- Ministry of Mines - Canada
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- Energy Development Corp, Philippines
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- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
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- PTC India Limited - India
- Chamber of Mines of South Africa
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- Larsen & Toubro Limited - India
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- Anglo American - United Kingdom
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- Bulk Trading Sa - Switzerland
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- Intertek Mineral Services - Indonesia
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- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
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- The University of Queensland
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- Ministry of Finance - Indonesia
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