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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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Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- The University of Queensland
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
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