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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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Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
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- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
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- MS Steel International - UAE
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- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
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- Australian Coal Association
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- Banpu Public Company Limited - Thailand
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- Intertek Mineral Services - Indonesia
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- Romanian Commodities Exchange
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- Sical Logistics Limited - India
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- The University of Queensland
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- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
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- Sinarmas Energy and Mining - Indonesia
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- Indonesian Coal Mining Association
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- Australian Commodity Traders Exchange
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- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
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- Tata Chemicals Ltd - India
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- CNBM International Corporation - China
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- PTC India Limited - India
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- South Luzon Thermal Energy Corporation
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- Videocon Industries ltd - India
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- Indian Energy Exchange, India
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- Wilmar Investment Holdings
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
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- Mjunction Services Limited - India
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- Parliament of New Zealand
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- Sojitz Corporation - Japan
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- India Bulls Power Limited - India
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- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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