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Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
 Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years in Australia’s Queensland state disrupted output from the world’s biggest shipper of the fuel.
Prices may increase to between $270 and $300 a metric ton, analysts from Macquarie Group Ltd., Morgan Stanley and Daiwa Capital Markets said. Mills agreed to pay $225 a ton for the three months starting Jan. 1, Bank of America Merrill Lynch analysts said last month.
“Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,” Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said by telephone. “A lot of operations have been impacted. It certainly looks pretty bad at this stage.”
Rain in the Australian state has inundated an area the size of France and Germany, prompting BHP Billiton Ltd. and Rio Tinto Group to declare force majeure, a legal clause that allows mines to miss deliveries. About 37 percent of the world’s traded coking coal is affected, according to Macquarie. Queensland floods in 2008 left steel producers, including Japan’s Nippon Steel Corp. and JFE Holdings Inc., with a threefold increase in annual contract prices to about $300 a ton.
Australian free-on-board prices may climb to $270 a ton for three-month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market, said Colin Hamilton, a London-based Macquarie analyst.
Thermal Coal
Morgan Stanley said prices may surge to $292.50, and Daiwa Capital analyst David Brennan said they may jump to $300. Free on board is a term indicating that delivery at the seller’s expense is included in the invoice price.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months. Prices jumped 3 percent to $126.10 a ton in the week ended Dec. 31, the most since Oct. 2008, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.
Coking coal suppliers traditionally held annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1, the start of the Japanese financial year. BHP has urged the industry to move to short-term deals to make prices more responsive to market changes. It agreed with JFE Holdings to the first three-month accord in March last year.
‘Price Spike’
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in a “price spike environment” rather than locking in $300 a ton for a whole quarter, Macquarie said in an e-mailed research note Jan. 4.
“We’re moving away from that quarterly contract pricing,” Daiwa’s Brennan said from Melbourne. “I can see that BHP wants to go to monthly. When I say $300 a ton that would be for one month in April for example, but not for the three months.”
There will be a “material impact” on Australian exports of coking coal, even if no further rain falls, Morgan Stanley Melbourne-based analysts Peter Richardson and Joel Crane wrote in a report yesterday. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks to come, they said.
Coal stockpiles at Gladstone harbor in Queensland are “very low” after flooding shut a rail network, said Craig Walker, acting chief executive officer of Gladstone Ports Corp. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days, he said.
‘Blue-Sky Scenario’
“The flooding will provide further upside to international coal prices and a floor to Chinese prices,” Helen Lau, an analyst at UOB-Kay Hian Ltd., said by telephone from Hong Kong. “It’ll easily take six to eight weeks, in a blue-sky scenario, before Australian supplies return to normal. Maybe it’ll take three to four months.”
Tata Steel Ltd. said it increased purchases in December in preparation for the adverse weather. The Mumbai-based company, India’s biggest producer of steel, ensured it had sufficient supplies, Managing Director H.M. Nerurkar said Jan. 4 by phone. To read more Bloomberg
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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Central Electricity Authority - India
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