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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
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