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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 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Economic Council, Georgia
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- ICICI Bank Limited - India
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- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
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- Planning Commission, India
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- GVK Power & Infra Limited - India
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- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
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- Merrill Lynch Commodities Europe
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- Antam Resourcindo - Indonesia
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- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
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- Mercuria Energy - Indonesia
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- The University of Queensland
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- Australian Coal Association
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- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
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- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
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- Rashtriya Ispat Nigam Limited - India
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- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
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- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
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- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
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- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
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