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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
 Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percent in May, a trader said.
Exports of coal rose to 1.93 million metric tons last month from 1.72 million in April, according to a note by mjunction Services Ltd., a Web-based trader backed by India’s biggest steel producers. The coal shipped was mostly thermal, used in power plants to generate electricity.
The terminal exported 4.57 million tons of coal in May, up from April’s 3.91 million tons and 22 percent more than a year earlier even as deliveries were cut by an 18-day national port and rail strike that ended on May 28. At the shipment rate so far this year, the terminal will export 57.72 million tons of the fuel in 2010, about 64 percent of its capacity.
Buyers from India accounted for about 42 percent of the terminal’s exports in May, according to the note. India’s imports of power-plant coal may grow 14 percent a year as demand for electricity increases, according to Tata Power Ltd.
Pakistan’s coal imports fell by about 69 percent to 40,233 tons in May from April, mJunction said. The South Asian nation imported 2.97 million tons in the first five months from Richards Bay terminal.
India imported 8.33 million tons in the first five months of this year from Richards Bay, 18.7 percent higher than the year-earlier period, according to the note. Richards Bay shipped about 35 percent of its total coal to India this year until May.
The country, Asia’s largest economy after Japan and China, expanded its industrial output by 17.6 percent in April, boosting its consumption of electricity as factories stepped up production. The nation’s thermal coal imports may climb to 72 million metric tons in 2011, according to Tata Power.
Prices for coal shipped through Richards Bay fell 0.4 percent to an average of $92.41 a ton on a free-on-board basis in the four days through June 4, according to IHS McCloskey. Asian benchmark prices at the port of Newcastle in Australia rose 1.2 percent to $99.30 through June 11.
Source: Bloomberg (By: Dinakar Sethuraman) - for more news click here
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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