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Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, were little changed near an 18-month high because of strong European demand in May.
Richards Bay Coal Terminal export prices fell 0.4 percent to an average $92.41 a metric ton in the four days through June 4, according to IHS McCloskey. They reached $95.75 at the end of April, the highest since Nov. 7, 2008.
“Fundamentals for Western European coal-burn remained strong, with May coal-burn coming in at about 4 percent higher, year-on-year, supported by unusually colder weather,” Amrita Sen, an analyst with Barclays Capital in London, said in a report e-mailed on June 4. “In addition to China, demand from other Asian countries remains robust. Even Japan is showing signs of recovery. India remains the other key bright spot in the Pacific market.”
South Africa is boosting exports to the East as India and China recover from last year’s slowdown. More than half its production is now going to Asia, according to McCloskey. The Richards Bay terminal is owned by South Africa’s largest coal exporters, including BHP Billiton Ltd., Anglo American Plc and Xstrata Plc.
Barclays cut its estimate for Richards Bay’s coal exports this year by six million tons to 64 million tons following a strike at Transnet Ltd., South Africa’s state-owned transport company, that started May 10. The dispute was called off at the end of May after unions accepted an 11 percent wage increase and a one-time payment of 1 percent of workers’ salaries.
Richards Bay exported 4.57 million tons of coal in May and received 1.95 million tons by rail. Stocks at the terminal fell to 2.04 million tons, their lowest level since December 2007, the terminal said on its website today.
Newcastle Prices
Coal prices at Newcastle, Australia, an Asian benchmark, rose 1.4 percent to $98.16 a ton in the week to June 4, according to the globalCOAL NEWC Index. Benchmark European coal derivatives fell for the first time in four sessions. Coal for delivery to Amsterdam, Rotterdam or Antwerp with settlement next year fell 35 cents, or 0.4 percent, to $99.65 a ton at 10:57 a.m. in London.
The coal derivative data are drawn from information supplied by ICAP Plc, GFI Group Inc., Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Bloomberg and Tradition Financial Services.
McCloskey’s data are an average based on daily price assessments and a market survey. Prior to the week ending April 30, the market survey was only carried out weekly.
Source: Bloomberg ( By Alistair Holloway)
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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 ...
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- Economic Council, Georgia
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- Price Waterhouse Coopers - Russia
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- Marubeni Corporation - India
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- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
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- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
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- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
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- LBH Netherlands Bv - Netherlands
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- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
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- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
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- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
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- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
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- Chamber of Mines of South Africa
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- Vedanta Resources Plc - India
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- Maheswari Brothers Coal Limited - India
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- Australian Commodity Traders Exchange
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- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
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- Mintek Dendrill Indonesia
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