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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- London Commodity Brokers - England
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- Commonwealth Bank - Australia
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- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
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- Central Java Power - Indonesia
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- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Parliament of New Zealand
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- Edison Trading Spa - Italy
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- Central Electricity Authority - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
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- Ministry of Finance - Indonesia
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- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
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- Power Finance Corporation Ltd., India
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- Baramulti Group, Indonesia
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- Minerals Council of Australia
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- Bhatia International Limited - India
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- Coalindo Energy - Indonesia
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- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
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- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
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- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Tamil Nadu electricity Board
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- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
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- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
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- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
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- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Planning Commission, India
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- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
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- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
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- Mercuria Energy - Indonesia
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- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
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- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
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- Global Business Power Corporation, Philippines
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- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
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- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
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