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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
 Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Terminal appears to have reached resolution, with an agreement to be ratified shortly, participants said on Thursday.
At the heart of the dispute was the allocation of limited coal deliveries for the Phase 5 expansion, which lifts RBCT’s export capacity to 91 million tonnes a year. However, the rail utility, Transnet Freight Rail, has capacity for just 65 million tonnes and any allocation to newcomers would have to come out of existing members tonnages.
Existing members of RBCT had to give up a portion of their rail allocation to ensure the producers earmarked to use Phase 5 could get coal to the port, a process which proved difficult to conclude. It is one that had to be reached though to ensure black economic empowerment miners had access to relatively lucrative export markets.
“The settlement is a compromise on the part of both parties and like all good compromises neither party is particularly happy,” said Trevor McGiddy, CEO of SDCT, which has spent R480m towards the R1.2bn Phase 5 expansion that adds 15 million tonnes to annual RBCT capacity.
At full export capacity of 91 million tonnes, the SDCT group, which comprises Exxaro Resources, E/Enterprises and Anker Coal, would have an allocation of six million tonnes out of the 15 million tonnes, which would enable them to recoup their investment in the expansion.
“Of course TFR is not at that 91 million tonnes level so our allocation in the short term until they get there is dependent on their performance,” McGiddy said.
If TFR manages to rail 65 million tonnes, the allocation to the participants in Phase 5 would be around four million tonnes, of which SDCT would have 1.75 million tonnes. “We’ve all had to bite the bullet on this one,” McGiddy said. “The financial model looks significantly different from when we first started the project.”
TFR railed 61 million tonnes in 2009 and expectations it will lift this to 65 million tonnes this year.
Work has progressed on TFR raising haulage capacity to 85 million tonnes as the first step towards reaching 91 million tonnes. “There is a strong cooperation between the coal industry and TFR,” he said.
The industry hope is that TFR will reach that 85 million tonnes level within four years.
Raymond Chirwa, CEO of RBCT, said in a recent presentation that of the 91 million tonnes, BEE companies would have a dedicated allocation of nearly 29 million tonnes or 32%.
The Phase 5 expansion, which is about a year behind schedule, will be commissioned on 1 May 2010.
Chirwa told Miningmx all the issues that had delayed the commissioning, including computer control systems, had been resolved and the expansion was good to go.
Source: Miningmx
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Oldendorff Carriers - Singapore
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- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
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- Chamber of Mines of South Africa
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- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indonesian Coal Mining Association
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- Savvy Resources Ltd - HongKong
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- Australian Commodity Traders Exchange
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- The Treasury - Australian Government
- Planning Commission, India
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- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
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- Malabar Cements Ltd - India
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- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
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- Georgia Ports Authority, United States
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- Kideco Jaya Agung - Indonesia
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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
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- Sical Logistics Limited - India
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- Electricity Authority, New Zealand
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- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
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- Holcim Trading Pte Ltd - Singapore
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- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Maheswari Brothers Coal Limited - India
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- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
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- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
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- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
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- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
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- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
- McConnell Dowell - Australia
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- The State Trading Corporation of India Ltd
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- Petrochimia International Co. Ltd.- Taiwan
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- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
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- San Jose City I Power Corp, Philippines
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