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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- London Commodity Brokers - England
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- Goldman Sachs - Singapore
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- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
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- Ministry of Transport, Egypt
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- Global Coal Blending Company Limited - Australia
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- Planning Commission, India
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- Eastern Coal Council - USA
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- India Bulls Power Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
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- Samtan Co., Ltd - South Korea
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- ICICI Bank Limited - India
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- CNBM International Corporation - China
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- Semirara Mining Corp, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
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- Orica Australia Pty. Ltd.
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- Indika Energy - Indonesia
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- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
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- The University of Queensland
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- Ministry of Mines - Canada
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- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
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- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
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- Chamber of Mines of South Africa
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- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
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- Directorate Of Revenue Intelligence - India
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- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Coal and Oil Company - UAE
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- Coalindo Energy - Indonesia
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- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
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- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
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- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
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- Medco Energi Mining Internasional
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- PowerSource Philippines DevCo
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- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bharathi Cement Corporation - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
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- Mercuria Energy - Indonesia
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- Romanian Commodities Exchange
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- SMG Consultants - Indonesia
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