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Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES


COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finalized, our sources said.

According to available market information, 12 million mt of imported coal tender floated by government India’s PSU state trading corporation last October on behalf of state utility NTPC has received 5 bidders participating. Those five suppliers were, including Indian based Adani Enterprises, Bhatia International Ltd., Knowledge Infrastructure Systems Ltd., Coastal Energy Private Limited and Dubai based Ghumaz Traders who had submitted bids against the tender floated by STC in early October.

There were some rumors in the market since last week, the price bid has been opened and issued the supply order to Adani Enterprises, Bhatia International Ltd., and Ghumaz Traders.  We also understand from market that, the remaining two parties were disqualified and price bids of disqualified parties were not opened.  The reason for disqualification was unknown as we could not reach the parties involved in this tender for comments or clarification.

COALspot.com has contacted STC to seeking confirmation. However, when we contacted STC authorities to confirm the above we were told that, the person in-charge was on year-end holiday and the person who replied to our telephone call refused to answer any of our questions. We were asked to contact again STC on next Monday.

As per tender terms, If the L2 and L3 bidders agree to match the offer price of L1, then Adani Enterprises will get order to supply 50% of the total quantity or 6 mln ton of coal to NTPC plants, while Gomaz will get opportunity to supply 30% or 3.6 mln tons and Bhatia International, will get the order to supply 20% of the total quantity or 2.4 mln tons of coal.

If the market news is confirmed its a straight entry for the remaining three bidders into the L1,L2 and L3 positions to grab 12 million coal supply from STC/ NTPC for 2011 - 2013 period. We will try to report the full story including price and other terms of contract after contact STC next week.

Majority of coal supplies against this tender is expecting from Indonesia. According to our sources, all the bidders were submitted mine support letter including from Indonesian producers to fulfill one of the tender requirements.

The Indonesian government declared coal price reference (ICPR) gains 8.27% or reached US$ 103.41 per ton in December, basis GCV (GAR) 6322 kcal/kg, TM 8%, Ash 15% & S 0.8% and market is expecting further increase in next Month.



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