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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 delivery between April 2010 and March 2011.
Industry eyebrows have been raised with the five utilities who combined own a 5% stake in the NSW Moolarben Mine securing the deal at USD 92.60 per tonne a significant gap between the physical and index prices of Australian coal.
Energy Publishing’s NEX Index for Newcastle spot coal was USD 103.15 per tonne FOB as at May 13th 2010. In April, long term thermal coal contracts for the Japanese fiscal year April 1st 2010 to March 31st 2011 were settled at USD 98 per tonne.
Late last month, Australia’s thermal coal hit an 18 month high of USD 108 per tonne while under a recent term deal, one Australian producer agreed to supply up to 2 million tonnes of coal at low USD 90s to a Korean utility. The Moolarben mine is owned by Felix Resources and located 40 kilometres north east of Mudgee in the Western Coalfields of New South Wales.
Source: Steel Guru / Energy Publishing
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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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